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has an estimated useful life of 15 years and their book value and fair market value is $8 million. The interest rate is 5%. Required:

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has an estimated useful life of 15 years and their book value and fair market value is $8 million. The interest rate is 5%. Required: 1. Prepare lessee's journal entries for January 1, 2022 and December 31, 2022 . 2. Prepare lessor's journal entries for January 1, 2022 and December 31, 2022

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