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What would waldo record as amortization

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Question - On January 1, 2021, PokemonGo Company leased equipment to Waldo Corporation under a lease agreement that qualifies as an operating lease to Waldo. The present value of the end-of-year lease payments of $173,165 discounted at 11% Is $640,000. The expected economic life of the asset is seven years. The lease term is five years. What would Waldo record as amortization in 2021?

Reference no: EM133149619

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