Blossom Co. as lessee records a finance lease of machinery on January 1, 2021. The seven annual lease payments of $814,000 are made at the end of each year. The present value of the lease payments at 12% is $3,715,000. Blossom uses the effective-interest method of amortization and sum-of-the-years'-digits depreciation (no residual value). prepare an amortization table for 2021 ND 2022
Blossom Co. as lessee records a finance lease of machinery on January 1, 2021. The seven annual lease payments of $814,000 are made at the end of each year. The present value of the lease payments at 12% is $3,715,000. Blossom uses the effective-interest method of amortization and sum-of-the-years'-digits depreciation (no residual value). prepare an amortization table for 2021 ND 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Blossom Co. as lessee records a finance lease of machinery on January 1, 2021. The seven annual lease payments of $814,000 are made at the end of each year. The present value of the lease payments at 12% is $3,715,000. Blossom uses the effective-interest method of amortization and sum-of-the-years'-digits depreciation (no residual value).
prepare an amortization table for 2021 ND 2022
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