What is a capital lease? Why should an accountant record both an asset and a lia- bility

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What is a capital lease? Why should an accountant record both an asset and a lia- bility in connection with this type of lease? What items should appear on the income statement as the result of a capital lease?LO1

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Financial Accounting

ISBN: 9780618310746

8th Edition

Authors: Belverd E. Needles Jr,, Marian Powers

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