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12-08-2024
Business

Answered

On January 1, 2021, Johnsonville recorded a right-of-use asset of $300,370 in an ""operating lease"". The lease calls for ten annual payments of $38,500 at the beginning of each year. The interest rate charged by Lakeland Leasing (the lessor) was 6%. The balance in the right-of-use asset on December 31, 2021, will be:
- $157,122.
- $282,348.
- $277,582.
- $300,370.

Answer :

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