Assume the balance in the lease payable account is now $75,000 after amortizing the final $95,000 payment
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Assume the balance in the lease payable account is now $75,000 after amortizing the final $95,000 payment on the $625,000 capital lease in question 1. If the actual residual value and the guaranteed residual value are the same, record the return of the guaranteed residual value to the lessor by the lessee at the end of the lease term.
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Related Book For 
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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