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LMN made the following journal entry relating to a finance lease: XXXX Cash Lease receivable Interest revenue XXXX XXXX Therefore, LMN must be the: O

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LMN made the following journal entry relating to a finance lease: XXXX Cash Lease receivable Interest revenue XXXX XXXX Therefore, LMN must be the: O 1. third party guarantor. 0 2. lessee. O 3. lessor O 4. either the lessee or lessor. On November 7, 2014 local residents sued Brimiey Corporation for excess chemical emissions that caused some of them to seek medical stention. The total lawsuit is $8,000,000 Briey Corporation's lawyers believe that the lawsuit will be successful and that the amount to be paid to the residents will be 54.000.000. On its December 31, 2014 financial statements Primey should 1. Accro a provision low of 50,000,000 with no financial statement disclosure necessary, 2. Accro a provenien tons of 4,000,000 and not disclose 3. Do nothing as the lawsuit has not yet ended 4. Simply disclose the details regarding the lawsuit in a noso

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