AC 302 WEEK 6 Willy Exercise Questions
Brief Exercise 21 Question 9
Indiana Jones Corporation enters into a 5-year lease of equipment on January 1, 2014, which requires 5 annual payments of $35,070 each, beginning January 1, 2014. In addition, Indiana Jones guarantees the lessor a residual value of $20,770 at lease-end. The equipment has a useful life of 5 years.
Prepare Indiana Jones’ January 1, 2014, journal entries assuming an inte
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AC 302
08 Sep 2015