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Calculate capital lease obligations

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Question - Calculate capital lease obligations for determining debt and depreciation. Six ovens were rented on December 31, with $20,000 charged to rent expense. The lease runs for 6 years with an implicit interest rate of 5%. At the end of the 6 years, Peyton will own them. Make any necessary adjusting entries. Here is what I have 6 ovens for 6 years. 20,000 at 5%.

Reference no: EM133130029

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