Eastern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2018.
Other information:
There is no expected residual value.
Required: Prepare appropriate journal entries for Hi-Tech Leasing for 2018 and 2019. Assume a December 31 year-end. Round your answers to the nearest whole dollar amounts.
Correct Answer:
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Lease receivable 222,66...
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