Concept explainers
Classification as Finance or Operating Lease, Lessor,
Required
- a. Classify this lease agreement for both the lessor and the lessee
- b. Prepare the lease amortization table for the entire lease term
- c. Prepare the journal entries necessary for Dolt Motors on January 1, 2018, and on December 31, 2018
- d. Prepare the journal entries necessary for JLOU Company on January 1, 2018, and on December 31, 2018
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