Lansing South leased hardware from Darter Computing on January 1. 2018. Darter Computing manufactured the hardware at
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Question:
Lansing South leased hardware from Darter Computing on January 1. 2018. Darter Computing manufactured the hardware at a cost of $400.000 and lists a cash selling price of $500.354 (this is also PV of the lease payments). Appropriate adjusting entries are made quarterly.
Required:
Round your answers to the nearest whole dollar amounts,
1. Prepare appropriate jounal entries for Lansing South (lessee) to record the lease at its beginning, January 1, 2018, and on March 31, 2018.
January 1, 2018,
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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