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Ivan Oder Co. recorded a right-of-use asset of $300,000 in a 10-year operating lease. Lease payments of $44,385 are made annually at January 1 of each year beginning January 1, 2018. The interest rate charged by the lessor was 10%.
Required: Prepare the appropriate journal entries on January 1, 2018, and December 31, 2018. Round your answers to the nearest whole dollar amounts.
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A classic and highly influential fragrance created by the French fashion house Chanel in 1921.
Unconditioned Stimulus
A stimulus that naturally and automatically triggers a response without any need for prior learning.
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A stimulus that automatically elicits a reflex action, such as pulling your hand away from a hot surface without thinking.
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