How to account 7 years nonconsecutive lease. The term is seven years. Payments are due annually on
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How to account 7 years nonconsecutive lease. The term is seven years. Payments are due annually on January 1 of each year, commencing on January 1, 2019. The first payment is $1,000,000, and payments escalate annually by 5%. Entered into an agreement on December 31, 2018. Interest 5%.
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