Capital lease transaction


Five trucks were leased by Pleasantville under terms qualifying as a capital lease. These trucks are to be used by the fire department. Where would the capital lease transaction be recorded?

Internal service fund.

Special revenue fund.

Plant and equipment fund.

Governmental activities.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Capital lease transaction
Reference No:- TGS0520439

Expected delivery within 24 Hours