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Unformatted text preview: Before deciding to lease, Sans Serif considered purchasing the copier for its cash price of $479,079. If funds were borrowed to buy the copier, the interest rate would have been 10%. How should this lease be classified? Provide the journal entries recorded at: 1. at the time of each of the four payment dates. 2. at the end of each year....
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This note was uploaded on 06/05/2010 for the course LO 78778 taught by Professor Losss during the Spring '10 term at Aberystwyth University.
- Spring '10