Question: Please answer part B Question Pharoah Co as les records a finance lease of machinery on January 1, 2021. The seven lease payments $4373,000. Pharoah

Please answer part B
Please answer part B Question Pharoah Co as les records a finance
lease of machinery on January 1, 2021. The seven lease payments $4373,000.

Question Pharoah Co as les records a finance lease of machinery on January 1, 2021. The seven lease payments $4373,000. Pharoah was the effective interest method of amortization and sum of the years' digits depreciation ( of the lease payments 9000 Breme t the end of each year. The present real (a Zvour answer has been saved and for grading. See Gradebook for some details Prepare an amortization table for 20121 and 2022 Pharoah Ca. Lease Amortization schedule Interest on Receivableiability aceae Libility Date Annual Lease Heceipt/Payment Recetabit 1/1/21 12/31/21 359000 12/31/22 Altemplo (b) Prepare all of Pharoah's journal entries for 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record the lease) (To record the first lease payment) (To record deprecation) Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!