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AICPA Adapted) ) As an inducement to enter a lease, Aris Company, a lessor, grants Ronald Company, a lessee, nine monts of free rent under
AICPA Adapted) ) As an inducement to enter a lease, Aris Company, a lessor, grants Ronald Company, a lessee, nine monts of free rent under a five year operating lease The lease is effective on April 1, 2020 and provides tor monthly rental of P100,000 to begin January, 2021 Required: Prepare journal entries on the books of the lessor over the 5-year lease term
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