问个会计问题, please see inside and thank you in advance!
We leased a small equipment from a Finance company.
Lease term is 60 months,
Install payment is $716.33 per month
Purchase amount is $1 at the end of lease.
How do I create lease schedule for this equipment?
I'm kind of thinking that I need further information like Asset life, fair value and interest rate. But I'm sure of that. Can any one help me with this?
Thanks so much!