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Determine the lease liability on january

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Question - On 1 January 2019, a company which prepares financial statements to 31 December each year enters into a 3-year lease of a machine. The company is required to make three lease payments of £19,755 each. These payments fall due on 31 December 2019, 2020 and 2021. The rate of interest implicit in the lease is 9% per annum. Determine the lease liability on 1 January 2019?

Reference no: EM133138717

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