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Assume that on December 31st , 2024, the end of the lease term, the balance...

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Accounting

Assume that on December 31st , 2024, the end of the lease term, the balance of the lease receivable is $60,000 and the actual residual value of the equipment is $54,000. What entry, if any, would OC Leasing (Lessor) have to record on date

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