Question 20 A capital lease begins on 1/1/16. Failure to record the 1/1/16 lessor entries for a direct financing, ordinary annuity lease would have what effect on the 1/1/16 lessor Total Assets and Total Equity, respectively? 6 Not yet answered Points out of 3.00 Select one O a. No Error, No Error O b. No Error, Understated O c. No Error, Overstated O d. Understated, No Error O e. Understated, Understated Flag question Question Not yet answered Points out of 3.00 If the lease in a sale-leaseback transaction meets one of the four leasing criteria and is therefore accounted for as a capital lease, who includes the leased asset on its books and which party records interest revenue during the lease period? Select one O a. Leased Asset on the seller-lessee's books. Interest Revenue on the Purchaser-lessors books O b. Leased Asset on the Purchaser-lessor's books, Interest Revenue on the Seller-lessee's books O c. Leased Asset on the Purchaser-lessors books, Interest Revenue on the Purchaser-lessor's books O d. Leased Asset on the Seller-lessee's books, Interest Revenue on the Seller-lessee's books Flag