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Prepare the lease-related entries C should make

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Question - M leased a machine on 11-01-19. The machine's estimated useful life is 3 years. The non-cancelable lease required M to make 3 monthly lease payments of $10,000 every month with the first lease payment occurring on 12-01-19. M's incremental borrowing rate is 3%. At the end of the lease, M will return the machine to the lessor. M uses the straight-line depreciation method (no residual value). M only prepares AJEs every December 31.

Prepare the lease-related entries C should make on:

a) 11-01-19

b) 12-01-19

c) 12-31-19

d) 01-01-20

e) 02-01-20

Reference no: EM132924302

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