Answer:
A.$230,410 
B. 01-Jan-17 
 Lease Receivable $230,410 
 Cost of Goods Sold $160,000 
 Sales Revenue $230,410 
 Inventory $160,000 
 
01-Jan-17 
Dr Cash $35,004 
 Cr Lease Receivable $35,004 
 
31-Dec-17 
Dr Lease Receivable $11,724 
 Cr Interest Revenue $11,724 
C)01-Jan-17 
Dr Cash $35,004 
Cr Deposit Liability $35,004 
D. Dr Inventory $1,000 
Cr Gain on Lease $1,000
Explanation:
A. Computation for the amount of the lease receivable.
PV of lease= PV(rate, nper, pmt, [fv]), [type]) 
PV of lease= -PV (6%,8,35004, , 1)
PV of lease =$230,410
Therefore the amount of the lease receivable is $230,410
B. Preparation of all necessary journal entries for Crosley for 2020.
01-Jan-17 
 Lease Receivable $230,410 
 Cost of Goods Sold $160,000 
 Sales Revenue $230,410 
 Inventory $160,000 
 
01-Jan-17 
Dr Cash $35,004 
 Cr Lease Receivable $35,004 
 
31-Dec-17 
Dr Lease Receivable $11,724 
 Cr Interest Revenue $11,724 
C. Preparation of all necessary journal entries for the company in 2020.
01-Jan-17 
Dr Cash $35,004 
Cr Deposit Liability $35,004 
D. Preparation to Record the entry to recognize the receipt of the asset for Crosley at the end of the lease term
Dr Inventory $1,000 
Cr Gain on Lease $1,000