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Both companies disclose sale-leasebacks (Delta Air Lines, and Southwest Airlines). Describe which of these sale-leasebacks resulted in a sales transaction (that is the company can

Both companies disclose sale-leasebacks (Delta Air Lines, and Southwest Airlines). Describe which of these sale-leasebacks resulted in a sales transaction (that is the company can recognize a gain or loss on the sale).

How can you tell? (Hint: this is about what classification of leases qualify for a sale under sale-leaseback rules).

Instructions: Find Delta Air Lines, Inc. and Southwest Airlines Co 2020 10-K filings.

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