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The following facts pertain to a non-cancelable lease agreement between Solish Brothers Leasing Company and...

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The following facts pertain to a non-cancelable lease agreement between Solish Brothers Leasing Company and Sunland Company, alessee May 1, 2020 Commencement date Annual lease payment due at the beginning of each year, beginning with May 1, 2020 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment Lessor's cost Fair value of asset at May 1, 2020 Lessor's implicit rate Lessee's incremental borrowing rate $15,349.90 $6,000 5 years 10 years $65.000 $76,000 The collectibility of the lease payments by Splish Brothers is probable Click here to view factor tables Compute the amount of the lease receivable at commencement of the lease. (For calculation purposes, se decimal places os displayed in the factor table provided and round answerte 5.275.15) Lease receivable at commencement Prepare a lease amortization schedule for Splish Brothers for the 5-year lease term (Round answers to 2 decimal places es 5.275.15) SPLISH BROTHERS LEASING COMPANY (Lessor) Lease Amortization Schedule Annual Lease Payment Plus Interest on Lease Recovery of lease BPO Receivable Receivable Date 5/1 20 5 51120

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