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Roland Corporation entered into the following transactions:
1. On January 1, 2014 Pear Car Rental leased a car to Roland Corporation for one year. Terms of the operating lease call for monthly payments of $650.
2. On January 1, 2014, Roland Corporation entered into an agreement to lease 20 machines from Pear Corporation. The terms of the lease agreement require an initial payment of $500,000 and then three annual rental payments of $600,000 beginning on December 31, 2014. The present value of the three rental payments is $1,492,108. The lease is a capital lease.
Instructions: Prepare the appropriate journal entries to be made by Roland Corporation in January related to the lease transactions
the adjusted trial balance for holly corporation at the end of 2014 contained the following accountsbonds payable
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