A business signs a capital lease for the use of a building. What accounts are debited and

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A business signs a capital lease for the use of a building. What accounts are debited and credited

(a) to begin the lease term and make the first lease payment,

(b) to record depreciation,

(c) to accrue interest on the lease liability, and

(d) to make the second lease payment?

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Financial Accounting

ISBN: 9780133118209

2nd Edition

Authors: Charles T. Horngren, Jr. Harrison, Walter T.

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