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What journal entry would be made for the following transaction? Liv Industries acquired control of a tile-cutting machine from loou unlimited under a three-year lease
What journal entry would be made for the following transaction?
Liv Industries acquired control of a tile-cutting machine from loou unlimited under a three-year lease that required six semiannual lease payments
a Debit right-of-use asset, credit bonds payable
b Debit right-of-use asset, credit lease payable
c Debit lease payable, credit right-of-use asset
d Debit machinery, Credit notes payable
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