Use the Present Value and Future Value Tables Included in Appendix

question 55

Multiple Choice

Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
-A 10-year capital lease requiring payments of $25,000 per year is signed. The entry to record the first payment would probably include a

• A) Debit to Lease Obligation that is of a larger amount than the debit to Interest Expense
• B) Debit to Lease Obligation that is of a smaller amount than the debit to Interest Expense
• C) Debit to Lease Obligation that is of a smaller amount than the debit to Cash
• D) Debit to Lease Obligation that is of a larger amount than the credit to Cash

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