What adjusting entry does ned make in reference, Accounting Basics

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What adjusting entry does ned make in reference

On January 1, 2008, Fred leased equipment to Ned for $70,000 a year for 6 years, with the first payment being made on January 1, 2009. The equipment cost Fred $300,000 to make. If Fred requires an 8 percent return on this lease, how much is

a) What journal entry does Ned make on his books on January 1, 2008 in reference to the lease?]

b) What adjusting entry does Ned make in reference to this lease? c) How much is Ned's lease obligation on Dec 31, 2010?

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Accounting Basics: What adjusting entry does ned make in reference

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Recent Questions Asked Accounting Basics

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Accounting Basics: What adjusting entry does ned make in reference

Reference No:- TGS0711534

Recent Questions Asked Accounting Basics

Q : Calculate the new cash used in operating activities

Q : What is amount of net sales from the above transactions

Q : Why the abc should record an asset on its books

Q : The owner opened a business account and deposited

Q : What adjusting entry does ned make in reference

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