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Jennifer, Inc. entered into a five-year finance lease on December 31, 2019. This lease requires five annual lease payments due on December 31 of each

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Jennifer, Inc. entered into a five-year finance lease on December 31, 2019. This lease requires five annual lease payments due on December 31 of each year. The first minimum payment was paid on December 31, 2019. This payment included which of the following? 1. II. III IV. Interest Expense No Yes Yes Lease Liability Yes No Yes No No TII O II O IV

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