Multiple Choice
On 30 June 2013, Mala Ltd leased a vehicle to Tango Ltd. Mala Ltd had purchased the vehicle on that day for its fair value of $89 721. The lease agreement cost Mala Ltd
$1457 to have drawn up and requires Tango to reimburse Mala for annual insurance costs of $1050. The amount recorded as a lease receivable by Mala Ltd at the inception of the lease is:
A) $88 264
B) $89 721
C) $90 771
D) $91 178
Correct Answer:
Verified
Correct Answer:
Verified
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