Could you please help with journal entries for the following lease transaction? A customer signed a $1,200 lease contracts to be paid monthly and the lease term is 12 months. What are the Journal Entries ? In Month 2 customer decided not to pay ( default ) Many thanks for your help Mah...
(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term Quarterly lease payments Economic life of asset Interest rate charged by ...