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Blackboard - XCO B QUESTION 29 On January 1 Rumbau Company entered into a five year lease on a building. The current value of the

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Blackboard - XCO B QUESTION 29 On January 1 Rumbau Company entered into a five year lease on a building. The current value of the five annual lease payments is $150,000. What is the journal entry to record the straight-line amortization of the lease at December 31? Debit Amortization Expense -ROU Building $150,000 Credit Accumulated Amortization - ROU Building $150.000 Debit Amortization Expense - ROU Building $30.000 Credit Accumulated Amortization - ROU Building $30,000 Debit Right of Use Asset - Building Lease $30.000 Credit Accumulated Amortization - ROU Building 530 000 Debit Right of Use Asset - Building Lease $150.000 Credit Lease Liability - ROU Building $150 000

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