Question
A Government enters into a six-month lease of equipment. The government does not have an option to extend the lease. What account should be debited
A Government enters into a six-month lease of equipment. The government does not have an option to extend the lease. What account should be debited to record first months payment on the lease?
A. Other financing use - leases
B. Expenditures - leases
C. Expenditures - lease principal
D. Expenditures - lease interest
e. None of the above
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B Expenditure Leases Since the lease is for six mont...
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Business Law Principles and Practices
Authors: Arnold J. Goldman, William D. Sigismond
9th edition
1133586562, 978-1285632995, 1285632990, 978-1285675367, 978-1133586562
