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Question: d on bereaule that would be suitable for both the...

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D ON BeReaule that would be suitable for both the lessor and the lessee and that covers all the years he eas hould apply involved 21-6 (L04) EXCEL (Lessor Entries; Sales-Type Lease) Crosley Company, amachinery dealer, leased a machine to Dexter Corporation on January 1,2017. The lease is for an 8-year period and requires equal annual payments of $35,013 at the beginning of each year. The first payment is received on January 1,2017. Crosley had purchased the machine during 2016 for $160,000 Collectibility of lease payments is reasonably predictable, and no important uncertainties surround the amount of costs yet to be incurred by Crosley Crosley set the annual rental to ensure an 11% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Crosley at the-termination of the lease . shaw the2elev st sechas the Instructions (a) Compute the amount of the lease receivable. b) Prepare all necessary journal entries for Crosley for 2012 elevant sechws E21-7 (L04) (Lessee Lessor Entries Sales-Type Lease) On January 1,2017, Bensen Copany in mt
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