CHAPTER 22
4. Prepare a lease amortization schedule. Date Annual Lease. Payment Interest on. Net Investment Net Investment Recovery Net Investment 1/1/03 1/1/03 $17,207 1/1/04 $17,207 1/1/05 $17,207 1/1/06 $17,207 5. Record the receipt of the first payment on January 1, 2003. 6. Record the adjusting entry for interest on December 31, 2003. ................
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