Exhibit 20-3 On January 1, 2016, Quinn Company Enters into a Five-Year

Multiple Choice

Exhibit 20-3
On January 1, 2016, Quinn Company enters into a five-year sales-type lease with Andy Company. The lease requires Andy to make five annual payments at the beginning of the year, with the first payment due January 1,
-Refer to Exhibit 20-3. What is the amount of sales revenue to be recognized by Quinn on January 1, 2016,?

A) $143,791
B) $150,000
C) $50,000
D) $0