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Prepare all of the journal entries for the lessee for and to record the lease agreement, the lease payments, and all expenses related to this
Prepare all of the journal entries for the lessee for and to record the lease agreement, the lease payments, and all expenses related to this lease. Assume the lessee's annual accounting period ends on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to o decimal places e.g. 5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record the lease.) (To record first lease payment.) (To record interest.) (To record amortization.) (To record second lease payment.) (To record interest.) (To record amortization.)
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