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On October 1, 2021, Sonoma Company leased equipment from Napa Inc. in lease payable in five...

On October 1, 2021, Sonoma Company leased equipment from Napa Inc. in lease payable in five equal annual payments of $590,000, beginning Oct 1, 2022. Similar transactions have carried an 9% interest rate. The right-of-use asset would be recorded at:

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ekkarill92 answered 2 years ago
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