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Klear Manufacturing sells its plant with a cost of $1.2 million to Burt Company for $1.4 million and immediately leases it back for a 15-year
Klear Manufacturing sells its plant with a cost of $1.2 million to Burt Company for $1.4 million and immediately leases it back for a 15-year term. The transaction does not meet the revenue recognition criteria under ASC Topic 606. At the inception of the sale and leaseback, Klear should debit cash and credit
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Fraud examination
Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma
4th edition
538470844, 978-0538470841
