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Assuming the lessee's accounting period ends on December 31, answer the following questions with respect to this lease agreement. (Round answers to O decimal
Assuming the lessee's accounting period ends on December 31, answer the following questions with respect to this lease agreement. (Round answers to O decimal places e.g. 58,971.) (1) What items and amounts will appear on the lessee's income statement for the year ending December 31, 2020? $ LA $ Interest Expense Amortization Expense (2) What items and amounts will appear on the lessee's balance sheet at December 31, 2020? Current Liabilities: Lease Liability Long-term Liabilities: Lease Liability Non-current Assets: Right-of-Use Asset Balance Sheet (Partial) December 31, 2020 $ LA $ $ (3) What items and amounts will appear on the lessee's income statement for the year ending December 31, 2021? $ LA $ Interest Expense Amortization Expense (4) What items and amounts will appear on the lessee's balance sheet at December 31, 2021?
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