Rent & Lease (Non - Capitalized) - Personal Property
This account should be charged with the rental/lease cost of Personal Property (i.e. Computers, Copiers, Cars, etc.) which is NOT from a capitalized lease agreement. Maintenance on rental/lease equipment should also be expensed to this account if the expense is not separated out on the billing. Rent charged in connection with product exhibitions / demonstrations or for training purposes should NOT be charged to this account. They should be charged to accounts 404050200 and 40406010000 respectively. The principal portion of any payment on a Capitalized Lease agreement should reduce the current portion of the capitalized lease established in account 7100000000 while the interest portion should be recorded to account 4362000000.