LEASED EQUIPMENT BOOKKEEPING ENTRY

by Alan
(Rogers, AR)

I have started a small business and purchased a sign with a lease purchase agreement. I paid $1000.00 down leaving a balance due of $7400 (with monthly payments of $226.00. What will be my bookkeeping entries be, and how will the depreciation be shown?

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Leased Assets

What are leased assets capilized at?

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