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Jennifer brent corporation owns equipment that cost 80000

1. Jennifer Brent Corporation owns equipment that cost $80,000 and has a useful life of 8 years with no salvage value. On January 1, 2011, Jennifer Brent leases the equipment to Donna Havaci Inc. for one year with one rental payment of $15,000 on January 1. Prepare Jennifer Brent Corporation's 2011 journal entries.

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Accounting Basics: Jennifer brent corporation owns equipment that cost 80000

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