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LMN correctly recorded a 5-year lease on a special machine by making the following entry on the date the lease was signed: DR.Lease receivable CR.

LMN correctly recorded a 5-year lease on a special machine by making the following entry on the date the lease was signed:

DR.Lease receivable CR. Asset-machine under leaseCR. Gross margin (dealer profit)CR. Unearned interest revenue

The lease was the following:

cannot determine based on the limited data given.

sales-type lease.

finance lease.

operating lease.

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