BBB Leasing purchased a machine for $250,000 and leased it to Jack Tupp Auto Repair on January 1, 2018. What is the balance in the lease payable account after the April 1, 2018, lease payment?
A) $224,381.
B) $233,685.
C) $232,569.
D) $241,185.

Question

BBB Leasing purchased a machine for $250,000 and leased it to Jack Tupp Auto Repair on January 1, 2018.  What is the balance in the lease payable account after the April 1, 2018, lease payment?
A) $224,381. 
B) $233,685. 
C) $232,569. 
D) $241,185.

Quizplus · Accepted Answer

11ea937b_35e5_1fa0_a419_89e5863b3a22_TB2599_00 $250,000 - 16,315 - 9,304 = $224,381

BBB Leasing Purchased a Machine for $250,000 and Leased It