Data for the next 4 questions: Poland Company engaged in leasing a machine for quality...
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Data for the next 4 questions: Poland Company engaged in leasing a machine for quality control that requires payment of $2,800 at the end of each month The econpmic life of the machine is 4 years. Poland Company normally is subject to 6% interest rate m business transactions. Assume lease period is 40 months. Answer the following three questions Q7. Provide journal on the date the lease contract was signed. Account Debit Credit Q8. Complete partial Lease Amortization Schedule in the space provided below. Q9. Provide the necessary journal entry that company must make for 2"d monthly payment Account Debit Credit Assume lease period is 30 months. Answer the following three questions Q10. Provide journal on the date the lease contract was signed Account Debit Credit
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