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Record the transactions in the first year

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Reference no: EM132950829

Problem - The Company sign a leasing contract for a machine on the 1st of January. The fair value of the transaction 42 277 UNITs. The lease term is 7 years, the useful lifetime of the asset is 8 years. The annual lease fee is 8 400 UNITs, the implicit interest rate is 9%. Record the transactions in the first year.

Reference no: EM132950829

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