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Lease Receivable Carrying Value: A lessor entered into a capital lease. The agreement requires six annual payments of $160,000 in advance. The implicit interest 10%. The residual value is $130,164 and is NOT guaranteed. What is the reported balance of the Lease Receivable for the first fiscal year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92739253

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