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On January 1, 2018, Gibson Corporation entered into a four-year operating lease. The payments were...

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Question

Accounting

On January 1, 2018, Gibson Corporation entered into a four-year operating lease. The payments were as follows: $24,000 for 2018, $19,500 for 2019, $17,500 for 2020, and $14,000 for 2021. What is the correct amount of total lease expense for 2019?

Multiple Choice

  • $21,750.

  • $18,750.

  • $24,000.

  • $19,500.

Answer & Explanation Solved by verified expert
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