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Posted by: Homeworkhelp
Price Quoted by Student: $3
Posted On: 2010-10-23 09:09:42

Windom Co. as lessee records a capital lease of machinery on January 1,2008. The seven annual lease payments of $350,000 are made at the end of each year. The present value of the lease payments at 10% is $1,704,000. Windom uses the effective-interest method of amortization and the sum-of-years' -digits depreciation (no residual value).


a)       Prepare an amortization table for 2008 and 2008

b)      Prepare all of Windom's journal entries for 2008

SOLUTION   a) Prepare an amortization table
Price $3
Attachment 1: Windom Co. as.doc
Solution Posted By: Homeworkhelp    Posted on: 23-10-2010