On June 1,2024 , a company leased a buliding. The lease agreement calls for the...
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On June 1,2024 , a company leased a buliding. The lease agreement calls for the company to make lease payments of $3,633.72 each month for the next two years, with the first lease payment beginning June 30. The company's normal borrowing rate is 7%. Required: 1. Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.) 2. Record the lease on June 1, 2024. Complete this question by entering your answers in the tabs below. Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.) (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Record the lease on June 1,2024 . (Do not round intermediate calculations. If no entry is required for a p select "No Journal Entry Required" in the first account field.) Journal entry worksheet rote: Enter debits before credits
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