Please provide work and answers in spreadsheet format, thanks! Use the information...
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Accounting
Please provide work and answers in spreadsheet format, thanks!
Use the information from Exercise 12 -11. Assume the lease is correctly classified as a financing lease. a. Prepare the journal entry to recognize the right to use asset and lease b. Prepare the amortization table showing the annual interest expense and C. What amount of amortization expense would be recognized each year for liability at commencement of the lease principal reduction. the leased asset? Use the information from Exercise 12 -11. Assume the lease is correctly classified as a financing lease. a. Prepare the journal entry to recognize the right to use asset and lease b. Prepare the amortization table showing the annual interest expense and C. What amount of amortization expense would be recognized each year for liability at commencement of the lease principal reduction. the leased asset
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