Finance leases receivable |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Finance leases receivable |
Note 8 – Finance leases receivable
Partner II entered into a Master Equipment Lease Agreement with Pueblo West, dated February 11, 2018, amended November 28, 2018 and March 12, 2019. Partner II acquired and delivered manufacturing equipment as selected by Pueblo West under sales-type finance leases. On September 27, 2022, Pueblo West exercised its lease prepayment option and purchased the manufacturing equipment for $245,369.35. On September 28, 2022 Partner II transferred full title to the equipment to Pueblo West.
Performing net finance leases receivable consisted of the following: Schedule of net finance leases receivable, non-performing
Finance lease revenue recognized on Partner II finance leases for the three months ended September 30, 2022 and 2021 was $20,168 and $9,957, respectively. Interest income recognized on Partner II finance leases for the nine months ended September 30, 2022 and 2021 was $37,659 and $ 31,176, respectively.
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- References No definition available.
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- Definition The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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