Business

Jasiah Ramirez

6 April, 11:22

Carter County entered into a capital lease to finance an Emergency-911 telecommunications system. The capitalized cost of the equipment was $185,000. The county made a required down payment of $25,000. The first debt service payment will not be due until the next fiscal year. The entry to record the inception of this lease in the General Fund would be Expenditures ... Lease Payable ... Cash ... $185,000 $160,000 25,000 Expenditures ... Other Financing Source ... Cash ... $185,000 $160,000 25,000 Capital Asset ... Lease Payable ... Cash ... $185,000 $160,000 25,000 Capital Asset ... Other Financing Source ... Cash ... $185,000 $160,000 25,000