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a. How would Ashe Company classify the lease? b. Prepare a schedule of the lease liability for the 5-year lease term. - Note: Round each
a. How would Ashe Company classify the lease? b. Prepare a schedule of the lease liability for the 5-year lease term. - Note: Round each amount in the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. c. Prepare the entries for Ashe on (1) January 1 to record commencement of the lease and the first lease payment, and (2) December 31 to record the two year-end adjusting entries. - Note: Round your answers to the nearest whole dollar
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