Assume the balance in the lease payable account is now $75,000 after amortizing the final $95,000 payment on the $625,000 capital lease in question 1. If the acutal residual value and the guaranteed residual value are the same, record the return of the guaranteed residual value to the lessor by the lessee at the end of the lease term. (Note: Again, base answer on amounts given. Don't try to reconstruct dollar amounts.)

Thank you for taking the time to copy your homework to AMHD.
Please refer to this announcement: CLICK HERE !! (https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html)

Will switching to a perpetual inventory system streghten companies control over inventory