Saved Help Save & Exit Submit Grichuk Power leased high-tech electronic equipment from Kolten Leasing...
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Saved Help Save & Exit Submit Grichuk Power leased high-tech electronic equipment from Kolten Leasing on January 1, 2018. Kolten purchased the equipment from Wong Machines at a cost of $253,500, its far value. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term Quarterly lease payments Economic life of asset Interest rate charged by the lessor 2 years (8 quarterly periods) $18,500 at Jan. 1, 2018, and at Mar. 31, June 30, Sept. 3, and Dec. 31 thereafter. years 12% Required: Prepare a lease amortization schedule and appropriate entries for Grichuk Power from the commencement of the lease through December 31, 2018. December 31 is the fiscal year end for each company. Appropriate adjusting entries are recorded at the end of each quarter Complete this question by entering your answers in the tabs below Amort Schedule General Journal KPre 4 of 15 Next>
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