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Question 16 1 pts On Jan 1, 2020, Lessor Corp signs a lease as follows: o Lessor's rate, 1=16% o Lease term= 10 years o
Question 16 1 pts On Jan 1, 2020, Lessor Corp signs a lease as follows: o Lessor's rate, 1=16% o Lease term= 10 years o Fair value of the Asset= $100,000 o Unguaranteed residual value = $ 10,000 o Annual Payments = $ 17432 The lease type for the lessor is designated as operating. All lease payments are made at the beginning of each period. On December 21, 2020 the lessor's journal entry includes a: O credit to lease revenue for $17,432 O a debit to to lease receivable for $100,000 debit to unearned lease revenue for $100,000 O credit to interest revenue for $17,885
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