ABC Inc.leased a computer to the Lennox Silver Company on 1 April 2018.The terms of the lease are as follows: *** ABC Inc.company charges a half-year depreciation in the year of acquisition and a half-year in the year of disposition, regardless of the actual dates of acquisition and disposal.
Suppose that at the end of the lease, the lessor tells the lessee to dispose of the asset, and to keep any proceeds in excess of the guaranteed residual value.Provide entries for the lessee on 1 April 2014, assuming that the lessee sells the asset for $2,100 and remits the required $2,000 payment to the lessor.

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ABC Inc.leased a computer to the Lennox Silver Company on 1 April 2018.The terms of the lease are as follows:  *** ABC Inc.company charges a half-year depreciation in the year of acquisition and a half-year in the year of disposition, regardless of the actual dates of acquisition and disposal.
Suppose that at the end of the lease, the lessor tells the lessee to dispose of the asset, and to keep any proceeds in excess of the guaranteed residual value.Provide entries for the lessee on 1 April 2014, assuming that the lessee sells the asset for $2,100 and remits the required $2,000 payment to the lessor.

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The Answer of ABC Inc.leased a computer to the Lennox Silver Company on 1 April 2018.The terms of the lease are as follows:  *** ABC Inc.company charges a half-year depreciation in the year of acquisition and a half-year in the year of disposition, regardless of the actual dates of acquisition and disposal.
Suppose that at the end of the lease, the lessor tells the lessee to dispose of the asset, and to keep any proceeds in excess of the guaranteed residual value.Provide entries for the lessee on 1 April 2014, assuming that the lessee sells the asset for $2,100 and remits the required $2,000 payment to the lessor.

ABC IncLeased a Computer to the Lennox Silver Company on 1