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Prepare the general for the august monthly lease payment

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Question - On August 1, 2018, Company entered into a capital lease, and correctly recorded the leased asset, and related obligation at $100,000. The annual interest rate implicit in the lease was 9%, and the first lease payment of $1,600 is due at the end of each month of the lease. Use this information to prepare the General Journal entry (without explanation) for the August 31, 2018 monthly lease payment. (Round your answer to the nearest whole dollar.)

Reference no: EM132229206

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