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Make any journal entry for flint on december

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Flint Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that had cost $258,000 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires five equal annual rentals of $86,800 payable each December 31, beginning December 31, 2019. An interest rate of 6% is implicit in the lease agreement. Collectibility of the rentals is not probable.

Problem 1: Make any journal entry for Flint on December 31, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Reference no: EM132728004

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