major126
major126
16.10.2019 • 
Business

Ncorp. entered into a nine-year finance lease on a warehouse on december 31, 2018. lease payments of $33,000, which includes maintenance services of $1,200, are due annually, beginning on december 31, 2019, and every december 31 thereafter. n corp. does not know the interest rate implicit in the lease; n's incremental borrowing rate is 12%. the rounded present value of an ordinary annuity for nine years at 12% is 5. what amount should n report as recorded lease liability

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