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How starving student should record the transaction

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Question 1: Starving Student's Mover's truck is being refurbished and not available for service for the next 4 months. Consequently, Starving Students rent a truck for the next 4 months for 1500 dollars per month. Starving Student's incremental borrowing is 6%. Please advice how Starving Student's should record this transaction upon inception and what entry should be recorded to record the first rental payment.

Reference no: EM132887499

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