Question: Answer Question 9 (5 points) On August 1, 2018, Dorchester Company entered into a capital lease, and correctly recorded the leased asset, and related obligation

 Answer Question 9 (5 points) On August 1, 2018, Dorchester Company

Answer Question 9 (5 points) On August 1, 2018, Dorchester Company entered into a capital lease, and correctly recorded the leased asset, and related obligation at S100,000. The annual interest rate implicit in the lease was 996, and the first lease payment of S1,600 is due at the end of each month of the lease. Use this information to prepare the General Journal entry (without explanation) for the August 31, 2018 monthly lease payment. If no entry is required then write "No Entry Required." (Round your answer to the nearest whole dollar.) Format B I General Journal: Debit Credit Date Accounts

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