1. How should this lease be classi?ed by Imaging Group and by Easy Leasing? 2. Prepare appropriate entries for both Imaging Group and Easy Leasing from the inception of the lease through the second rental payment on April 1, 2013. Depreciation is recorded at the end of each ?scal year (December 31). 3. Assume Imaging Group leased the machine directly from the manufacturer, Maker Corp., which produced the machine at a cost of $700,000. Prepare appropriate entries for Maker from the inception of the lease through the second rental payment on April 1, 2013.
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This question was created from Chapter 15 - Test Bank 193 https://www.aceyourstudies.com/file/11396323/Chapter-15-Test-Bank-193/?focusQaId=10148792
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