Jestion 1 ot yet swered Guilford Co. has leased property and accounted for the transaction as a finance lease. No salvage value exists. The amount recorded initially by the lessor as a lease receivable should normally: ints out of DO Flag question Select one: O a. Equal the total of the minimum lease payments O b. Exceed the total of the minimum lease payments O c. Equal the present value of the minimum lease payments at the beginning of the lease O d. Exceed the present value of the minimum lease payments at the beginning of the lease estion 2 tyet wered A 12-year finance lease specifies equal minimum annual lease payments. Part of this payment represents interest and part represents a reduction in the net lease liability. The portion of the minimum lease payment in Year 10 applicable to interest should be: nts out of Flag question Select one: O a. Less than in Year 8 O b. More than in Year 8 O c. The same as in Year 12 O d. Less than in Year 12