What would be the interest payable

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Question

A a lease agreement that qualifies as a capital lease calls for an annual lease payments I've $26,269 over a six-year lease term, with the first payment at January 1, the leases Inception. The interest rate is 5%.

Is lessees this cool year is the calendar year, what would be the amount of the lease liability that the lessee would report in his balance sheet at the end of the first year?

What would be the interest payable?

Reference no: EM132318373

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