Question: Help Save & Exit On January 1, 2018. entered into a three-year lease for new office space agreeing to lease payments of $5,000 in 2018.
Help Save & Exit On January 1, 2018. entered into a three-year lease for new office space agreeing to lease payments of $5,000 in 2018. $6,000 in 2019 and $7,000 in 2020. Payments are due on December 31 of each year with the first payment being made on December 31 2018 Harlon is aware that the lessor used a 5% interest rate when calculating lease payments. (EV of $1. PV of SLEVA of SL PVA of S1 FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1-4. Prepare the appropriate entries for Harion Consulting on January 1, 2018 December 31, 20182019 and 2020 to record the lease (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your intermediate and final answers to nearest whole dollar.) View transaction list Journal entry worksheet Record for Harlon consulting the beginning of the lease etete
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