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Which of the following is an appropriate journal entry for the initial recognition by a financier lessor of a finance lease arrangement? Select one: DRLease

Which of the following is an appropriate journal entry for the initial recognition by a financier lessor of a finance lease arrangement?

Select one:

DRLease receivable: CR Asset

DRLeased asset: CR Cash

None of these

DRLeased asset:CR Cash/accounts payable

DRLease receivable: CR Lease liability

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