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On December 31, 2017, Ames Company leased equipment for 10 years. The entity contracted to pay P400,000 annual rent on December 31, 2017, and on

On December 31, 2017, Ames Company leased equipment for 10 years. The entity contracted to pay P400,000 annual rent on December 31, 2017, and on December 31 of each of the next nine years. The lease l...

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