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Prepare a lease amortization schedule and appropriate entrie

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Reference no: EM131005399

Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2011. Edison purchased the equipment from International Machines at a cost of $112,080.

Required:

Prepare a lease amortization schedule and appropriate entries for Edison Leasing from the inception of the lease through January 1, 2012. Edison's fiscal year ends December 31.

Reference no: EM131005399

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