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Business, 11.05.2021 02:10 tashaunalewis6774

Crane Co. leased equipment to Union Co. on July 1, 2021, and properly recorded the sales-type lease at $144000, the present value of the lease payments discounted at 8%. The first of eight annual lease payments of $21500 due at the beginning of each year of the lease term was received and recorded on July 3, 2021. Crane had purchased the equipment for $113000. What amount of interest revenue from the lease should Crane report in its 2021 income statement

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Crane Co. leased equipment to Union Co. on July 1, 2021, and properly recorded the sales-type lease...
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