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Record the following capital lease, the first payment at June 30, 20×6 and for the financial year ended December 31, 20×5: On July 1, 20×5, LetsDo Corporation signed a capital lease that requires a payment of $40.000 per year for the next five years. The interest rate for capital lease is 5% per year.Show transcribed image text Record the following capital lease, the first payment at June 30, 20×6 and for the financial year ended December 31, 20×5: On July 1, 20×5, LetsDo Corporation signed a capital lease that requires a payment of $40.000 per year for the next five years. The interest rate for capital lease is 5% per year.
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