On December 31, 2018, Take it Easy Co. leased an equipment with a cost of $1,000,000 to Desperado Co. for 4 years which is also the useful life of the asset. The lease agreement specifies equal annual payment of $261,694 beginning on December 31, 2018. At the end of the lease term, the equipment will revert to Take it

Sep 8, 2023

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On December 31, 2018, Take it Easy Co. leased an equipment with a cost of $1,000,000 to Desperado Co. for 4 years which is also the useful life of the asset. The lease agreement specifies equal annual payment of $261,694 beginning on December 31, 2018. At the end of the lease term, the equipment will revert to Take it
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