Business, 14.02.2020 03:03, loganshockley123
On January 1, 2018, Savor Corporation leased equipment to Spree Company. The lease term is 9 years. The first payment of $698,000 was made on January 1, 2018. The present value of the lease payments is $4,561,300. The lease is appropriately classified as a sales-type lease.
a. Assuming the interest rate for this lease is 9%, how much interest revenue will Savor record in 2018 on this lease?
Answers: 3
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On January 1, 2018, Savor Corporation leased equipment to Spree Company. The lease term is 9 years....
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