In the long-term liabilities section of its balance sheet at december 31, 2003, mene co. reported a capital lease obligation of $75,000, net of current portion of $1,364. payments of $9,000 were made on both january 2, 2004 and january 2, 2005. mene's incremental borrowing rate on the date of the lease was 11%, and the lessor's implicit rate, which was known to mene, was 10%.in its december 31, 2004 balance sheet, what amount should mene report as capital lease obligation, net of current portion? a. $66,000b. $73,500c. $73,636d. $74,250
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In the long-term liabilities section of its balance sheet at december 31, 2003, mene co. reported a...
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