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he following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Cullumber Company, a lessee. The asset will revert to the tessor

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he following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Cullumber Company, a lessee. The asset will revert to the tessor at the end of the lease term. Thelessee uses the straight fine amortization for all leased equipment. Prepare all of the journal entries for the lessee for and to record the lease agreement, the lease payments, and all expenses. related to this lease. Assume the lessee's annual accounting period ends on December 31 . (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places eg. 5,275. Record joumal entries in the order presented in the problem.) (To record amortization.) (To record second lease payment.) (To record interest.). (To record amortization.)

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