Review Case 20-14 and Case 20-15, both of which address capital lease issues. Choose either Case 20-14
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Question:
Review Case 20-14 and Case 20-15, both of which address capital lease issues. Choose either Case 20-14 or Case 20-15 and prepare a reply to the controller for the scenario presented. Once you have presented a response to the case chosen, decide whether or not a lease or purchase would be the best option for the item being considered for acquisition. Explain how the asset would be accounted for by purchase and what effect it would have on the financial statements. Use your readings from the text and at least one additional academic resource to provide support for your response.
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