Journalize all of the elimination entries

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Reference no: EM132217537

Question: Parent leased equipment to sub at the beginning of the year under the sales type lease. Sub made five $10,000 payments and economic life for equipment was 5 years with no salvage value. Cost of the equipment was $30,000. Use a discount rate of 7% and Journalize all of the elimination entries for 5 years.

Reference no: EM132217537

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