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On January 1, 2020, Rowe leased a MRI machine from MA leasing. The lease agreement specifies 10 monthly payments of $9000.00 each beginning , 1/1/2020.

On January 1, 2020, Rowe leased a MRI machine from MA leasing. The lease agreement specifies 10 monthly payments of $9000.00 each beginning , 1/1/2020. The useful life of machine is estimated 3 years with an estimated residual value $50000

prepare journal entries for both the lessee and lessor

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