Skysong, Inc. owns equipment that cost $124,000 and has a useful life of 10 years with no salvage value on January 1, 2017, skysong leases the equipment to Morgan corporation for one year with one rental payment of $16,300 on January 1. 

Prepare skysongs 2017 journal entries (credit account titles are automatically indented when amount is entered do not indent manually if no entry is required, select no entry for the account titles and enter 0 for the amounts)

Answer rating: 100% (QA)

Sky song 2017 journal entry Date Explanation D... View the full answer