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Sprouse Enterprises leases equipment from Wilbanks Rentals for six years at a cost of $92,000 per year. Wilbanks prefers being paid at the end of
Sprouse Enterprises leases equipment from Wilbanks Rentals for six years at a cost of $92,000 per year. Wilbanks prefers being paid at the end of the period rather than the beginning, so Sprouse sends in their annual lease payment on December 31 of each year. Which accounting problem is this most likely to cause for the lessee? Select answer from the options below residual values current versus noncurrent classification sales-type leases disclosure
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