Refer to Practice 15-16. Assume the same facts except that the $500 bargain purchase option is instead

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Refer to Practice 15-16. Assume the same facts except that the $500 bargain purchase option is instead a $500 unguaranteed residual value. Make the journal entries necessary on the books of the lessor company to record

(1) The lease signing (including receipt of the first lease payment) and

(2) The recognition of interest revenue at the end of the first year.

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Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Question Posted: Jan 28, 2012 05:22 AM

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Refer to Practice 15-16. Assume the same facts except that the $500 bargain purchase option is instead

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1 Lease signing and receipt of first lease payment Business calculator keystrokes Present Value of t...View the full answer

Intermediate Accounting

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