Guilford Co. has leased property and accounted for the transaction as a finance lease. No salvage value exists. The amount recorded in by the lessor as a lease receivable should normally Select one O a Equal the total of the minimum lease payments ob Exceed the total of the minimum lease payments O qual the present value of the minimum lease payments at the beginning of the lease d. Exceed the present value of the minimum lease payments at the beginning of the least A 12 year finance lease specifies equal minimum annual lease payments. Part of this payment represents interest and part represents a reduction in the netbaseliability. The portion of the minimum lease payment in Year 10 applicable to interest should be Select one Less than in Year b. More than in Year 8 c. The same as in Year 12 Od less than in Year 12 Assume a finance lease Indicate of the lessee or the lessor will be recording amortization expense and interest revenue Select one 1. Lessee records amortization expense, lessor records interest revenue ob Lessor records amortization expense, lessee records interest revenue O c The lessor records both amortization expense and interest revenue d. The lessee records both amortization expense and interest revenue