What amount should be reported as sales? Resolution Company is a dealer in equipment. On January 1, 2022, the entity leased equipment to a lessee; the lease is appropriately recorded as a sales type lease. The following are the details of the lease: Annual rental payable in advance Lease term Useful life of the equipment Cost of equipment Purchase

Sep 8, 2023

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What amount should be reported as sales? Resolution Company is a dealer in equipment. On January 1, 2022, the entity leased equipment to a lessee; the lease is appropriately recorded as a sales type lease. The following are the details of the lease: Annual rental payable in advance Lease term Useful life of the equipment Cost of equipment Purchase
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