What is the amortization table for 2018 and 2019

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Hughey Co. as lessee records a finance lease of machinery on January 1, 2018. The five annual lease payments of $239,815 are made at the beginning of each year. The present value of the lease payments at 10% is $1,000,000. Hughey uses the effective-interest method of amortization and straight-line depreciation (no residual value).

Instructions (Round to the nearest dollar.)

(a) What is the amortization table for 2018 and 2019?

(b) What are all of Hughey's journal entries for 2018?

Reference no: EM132423203

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