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Sarasota corporation owns equipment that cost 84800and has a useful life 8 with no salvage value . On january 1, 2020 sarasota leases the equipment

Sarasota corporation owns equipment that cost 84800and has a useful life 8 with no salvage value . On january 1, 2020 sarasota leases the equipment to havaci inc for one year with one rental payment of 15900 on january 1 Assuming havaci (lessee) elects to use the short term lease exception, prepare havaci's 2020 journal entry

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