Record the first three payments


Record the first 3 payments made on a $625,000 capital lease assuming (1) annual payments of $95,000 are made at the beginning of each year, (2) payments include $3,000 of taxes, insurance, and maintenance costs, (3) 10% interest, and (4) a $85,890 guaranteed residual value. (Note: Base answer on amounts given. Do NOT try to reconstruct dollar amounts.)

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Accounting Basics: Record the first three payments
Reference No:- TGS076659

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