Question: Assume the same data as in P21.9, with JAL (JPN) having an incremental borrowing rate of 8%. Instructions a. Compute the amount of the initial

Assume the same data as in P21.9, with JAL (JPN) having an incremental borrowing rate of 8%.
Instructions
a. Compute the amount of the initial lease liability.
b. Prepare a 10-year lease amortization schedule.
c. Prepare all of the lessee's journal entries for the first year. Assume straight-line depreciation.

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a Initial Lease Liability Lease payments 40000 X PV of an annuitydue for 10 periods at 8 724689 2898... View full answer

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