Business, 04.03.2021 20:20 edgar504xx
On September 30, 2021, Ferguson Imports leased a warehouse. Terms of the lease require Ferguson to make 15 annual lease payments of $62,000 with the first payment due immediately. Accounting standards require the company to record a lease liability when recording this type of lease. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Assume a 6% interest rate. What amount should Ferguson record the lease liability on September 30, 2021, before the first payment is made
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On September 30, 2021, Ferguson Imports leased a warehouse. Terms of the lease require Ferguson to m...
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