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On 31.12.2019, AXY Corporation signed lease for a machine, the present value of the minimum lease payments 41565. The annual payments of OR 9968 at

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On 31.12.2019, AXY Corporation signed lease for a machine, the present value of the minimum lease payments 41565. The annual payments of OR 9968 at the ending of each year. AXY incremental borrowing rate is 10%, and the Lessor's implicit rate is unknown. On the journal entry, with first annual payment in book of the lessor. The credit side is: Select one: a. Lease Receivable and interest Receivable b. Lease Receivable a Lease Receivable and interest expeses d. cash e. The correct answer not Available

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