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On January 1 , 2 0 2 0 , Wilson Co . leases equipment to Nice Inc. The lease term is 4 8 months, and
On January Wilson Co leases equipment to Nice Inc. The lease term is months, and the rent payment will be $ per month. Wilson lessor classifies it as an operating lease. Wilson offers a month rentholiday. Thus, Nice does not need to make any rent payments for the first months. The first monthly rent at $ will be paid at the beginning of th month. Wilson should recognize rent revenue from this lease arrangement for the first quarter on at
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