please answer to questions; M20-8 and M20-9.

ming for leases term of Lease G is 65% 120.8. Ar its inception, the lease term of Lease G: LO 20.4 of the estimated remaining econom leased property. This lease contain option that is reasonably expected to The lessee should record Lease G as: lease contains a purchase v expected to be exercised. 1020.4 leased prat is reasonably a. neither an asset nor a liability b. an asset but not a liability c. an expense d. an asset and a liability M20-9 Rent received in advance by the lessor for an LO 20.6 operating lease should be recognized as revenue! a. when received b. at the lease's inception c. over the lease term d. at the lease's expiration M20-10 On August 1, 2019, Kern Company leased a LO 20.6 machine to Day Company for