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Question no. 8 Prepare the journal entries that the lessee should make to record the following transactions. 1. The lessee makes a lease payment of
Question no. 8
Prepare the journal entries that the lessee should make to record the following transactions.
1. The lessee makes a lease payment of $80,000 to the lessor in an operating lease transaction.
2. Veatech Company leases a new building from Joel Construction, Inc. The present value of the
lease payments is $800,000.The lease qualifies as a capital lease.
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