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Home Q & A Board Other Fields Homework Help Business Accounting
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brendatanmy brendatanmy
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5 years ago
Mega Corporation leases machinery on January 1, 2016. The lease is for a period of 10 years, which is the useful life of the machinery. The implicit rate of interest is 7% and the Obligation under Capital Lease is recorded at $75,152. The lease requires annual payments of $10,000, with the first payment due at the inception of the lease. How much interest expense should be accrued on December 31, 2016?
A) $5,261
B) $0
C) $10,000
D) $5,439
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
Authors:
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slimkatslimkat
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5 years ago
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brendatanmy Author
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#2
5 years ago
Oh god, I was lost before coming here. Thanksss
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#3
5 years ago
Great, make sure you mark the topic solved, it hides it from other eyes Slight Smile
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