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A lessee had a ten-year finance lease requiring equal annual payments. The reduction of the...

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Accounting

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A lessee had a ten-year finance lease requiring equal annual payments. The reduction of the lease ability in you 2 should equal one-tenth of the original lease liability the reduction of the lease liability in year 1. the current liability reported for the lease at the end of year 1. the current liability reported for the lease at the end of year 2

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