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A company signs a 6 - year lease for a building with an annual payment of $ 1 0 0 , 0 0 0 .
A company signs a year lease for a building with an annual payment of $ The building's useful life is years, and the company is reasonably sure it'll buy the building at the end of the lease for $ Determine if this is an operating or finance lease and outline the initial journal entries.
Kindly do not provide chat gpt answers, posting this question rd time here. If feel the question is from chatgpt and copied from any other source,
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