For maintaining a book of accounts, record in a journal entries in the books of lease contract by creating lease receivable at its net investment in which, it is equal to the minimum lease payments discounted at the rate of interest implicit in the lease.

For maintaining a book of accounts, record in a journal entries in the books of lease contract by creating lease receivable at its net investment in which, it is equal to the minimum lease payments discounted at the rate of interest implicit in the lease.