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Make the General Journal entry for August

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Question - On August 1 2018 A Company entered into a capital lease and correctly recorded the leased asset and related obligation at $120,000. Annual interest rate implicit in the lease was 7% and the first lease payment of $1,700 is due at the end of each month for the lease. Make the General Journal entry for August 31 2018 monthly lease payment.

Reference no: EM132446540

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