Question

Winn Co. enters into a 6-year finance lease for a copy machine with an interest rate of 8% (the present value of its $1,298 annual lease payments is $6,000). Winn will record the first-period lease payment with a debit to Right-of-Use Asset in the amount of?

Answer 1

1298

Step-by-step explanation:

Reason: Right-of-Use Asset is debited for the present value of the annual lease payment which is $1,298