Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

تمرين 65

A city government has a six-year capital lease for property being used within the General Fund.Minimum lease payments total $70,000 starting next year but have a current present value of $49,000.What is the total amount of expenditures to be recognized on the fund financial statements over the six-year period
a.$-0-.
b.$49,000.
c.$70,000.
d.$119,000.