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a. Explain the justification for requiring lessees to capitalize certain long-term leases. Do not limit your discussion to the specific criteria for classifying a lease
a. Explain the justification for requiring lessees to capitalize certain long-term leases. Do not limit your discussion to the specific criteria for classifying a lease as a capital lease.
b. Describe how a lessee accounts for a capital lease at inception
c. Explain how a lessee records each minimum lease payment for a capital lease
d. Explain how Von should classify each of the two leases. Provide justification.
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