10458     ACCOUNT NO. 4220 - LEASE/PURCHASE CONTRACTS
(Revised 9/90)

 

Normal Balance:  Credit

 

Purpose:  This account shows the long-term liability applicable to the principal on capital lease (lease-purchase) contracts.  As claims are filed for lease payments, the account balance is reduced by the amount of payment applicable to the principal, excluding any interest, maintenance or other operating costs.

 

Subsidiaries:  File of lease-purchase contracts.