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Question no. 9 JPM Corporation leases new equipment on December 31, 2010. The lease transfers ownership of the equipment to JPM at the end of

Question no. 9

JPM Corporation leases new equipment on December 31, 2010. The lease transfers ownership of the equipment to JPM at the end of the lease. The present value of the lease payments is $192,000. Prepare the entry to record the lease.

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