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Business, 21.04.2020 15:50 chaosdamax8295

Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car to Jayhawk Company for one year. Terms of the operating lease agreement call for monthly payments of $300. 2. On January 1, 2017, Throm Inc. entered into an agreement to lease 20 computers from Drummond Electronics. The terms of the lease agreement require three annual rental payments of $26,000 (including 11% interest) beginning December 31, 2017. The present value of the three rental payments is $63,536. Throm considers this a capital lease. Prepare the appropriate journal entry to be made by Jayhawk Company for the first lease payment.

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Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car...
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