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Analyze the treatment of debt in a capital lease agreement. Should the entire debt amount from an acquisition of general capital assets be reported as

Analyze the treatment of debt in a capital lease agreement. Should the entire debt amount from an acquisition of general capital assets be reported as debt of the fund that accounts for the activities of the department or function using the leased asset? Should the debt from an equipment lease used by multiple departments be reported in the governmental activities accounts rather than a fund? Discuss how you concluded the proper treatment of the debt.

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