Tony Stewart leases a sprint car under a lease-to-own agreement on 10/5/2020. His payments will be 777.55

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Tony Stewart leases a sprint car under a lease-to-own agreement on 10/5/2020. His payments will be 777.55 a month for 17 payments starting 10/5/2020. The blue book value of the sprint car is $13,131.57. GAAP straight-line depreciation is used with a useful life of 3-years and a $500.00 salvage value. Record all of Stewart's applicable 2020 general journal entries

Posted Date: May 18, 2024 07:08 PM

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Tony Stewart leases a sprint car under a lease-to-own agreement on 10/5/2020. His payments will be 777.55

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