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Interest rate implicit on the lease is 12%. 20. At what amount should Prince of Wales record the building at July 1, 2019? 21. What

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Interest rate implicit on the lease is 12%. 20. At what amount should Prince of Wales record the building at July 1, 2019? 21. What is the annual depreciation of the building? 22. Prepare the entries in the books of Prince of Wales to record the foregoing for the years 2019 and 2020. The company adopts the calendar year as its reporting period

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