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Blume Corporation leases equipment for a ten-month period. The entire related lease payment is due at the end of the ten-month period. The journal entry

Blume Corporation leases equipment for a ten-month period. The entire related lease payment is due at the end of the ten-month period. The journal entry to recognize the monthly accrual related to the lease will include a debit to:

Multiple Choice

  • accrued lease expense.

  • interest expense.

  • leased equipment.

  • short-term lease expense.

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