|
I wonder if someone could help with the following query please
Client has purchased two vehicles which he has leased/hired out to customers with a monthly hire cost and the option of paying a final amount after three years to buy the vehicle or to take out a new three year contract or to return the vehicle. The vehicles remain belonging to the company until the final payment is made.
What bookkeeping entries should I be making to account for this arrangement please.
I can find a lot of advice on the entries for the leasee but nothing for the lessor.
Many thanks for any help.
Pete
Edited at 28 May 2012 07:29 PM GMT
|
