Answer:
<em>Lease liability/receivable</em>
PV $13,323.6917
<em>Schedule:</em>
Beginning // Payment // Subtotal //Interest // Ending
13,323.69 2,500 10,823.69 541,18 11.364,87
11.364,87 2,500 8.864,87 443,24 9.308,11
<em><u>Income for the first year:</u></em>
sales revenue 13,323.69
interest revenue 541,18
Total 13.864,87
Explanation:
Lease liability/receivable
C 2,500.00
time 6
rate 0.05
PV $13,323.6917
Amortization calculations
P0 less payment_1 = P1
13,323.69 - 2,500 = 10,823.69
P1 x (1 + r) = P2
10,823.69 x (1 + 5%) = 11.364,87
P2 less payment_2 = P3
11,364.87 - 2,500 = 8.864,87
The lease receivable will be a sales revenue and each interest accrued durign the year an interest revenue