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Prepare jana kingston journal entry

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Question - Jana Kingston Corporation enters into a lease on January 1, 2014, that does not transfer ownership or contain a bargain-purchase option. It covers 3 years of the equipment's 8-year useful life, and the present value of the minimum lease payments is less than 90% of the fair value of the asset leased. Prepare Jana Kingston's journal entry to record its January 1, 2014, annual lease payment of $35,000.

Reference no: EM132064956

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Prepare jana kingston journal entry : Jana Kingston Corporation enters into a lease on January 1, 2014, Prepare Jana Kingston's journal entry to record its January 1, 2014, annual lease payment
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