Sir please help me sir urgently and explain answer An asset with a selling price of $560,000 isleased by a lessee for a lease term of 4 years.The interest rate is 12% and payments aremade at the end of the period. The annualpayments are $184,371. Based on thisinformation, how much will the unearnedrevenue be and which party in the transactionwill record this account when the leaseagreement is made?Select one:a. $184,371; lessorb. $177,484; lessorc. $560,000; lesseed. $560,000; lessore. $177,484; lessee

Accounting of lease assets Financial Lease Accounting Recording unearned interest income in the…

Answered: ed by a lessee for a lease term of-…

Business

Accounting

ed by a lessee for a lease term of- nterest rate is 12% and payments e at the end of the period. The am

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Balance of Payments

BOP is categorized into the following three components:

Question

Sir please help me sir urgently and explain answer

An asset with a selling price of $560,000 is
leased by a lessee for a lease term of 4 years.
The interest rate is 12% and payments are
made at the end of the period. The annual
payments are $184,371. Based on this
information, how much will the unearned
revenue be and which party in the transaction
will record this account when the lease
agreement is made?
Select one:
a. $184,371; lessor
b. $177,484; lessor
c. $560,000; lessee
d. $560,000; lessor
e. $177,484; lessee

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