option. The lessee had no other costs associated with this lease. Required a. How would...
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option. The lessee had no other costs associated with this lease. Required a. How would Lessee Inc. classify the lease? d. Prepare the entries for Lessee Inc. on January 1 and December 31 of the first two years of the lease term, assuming Lessee Inc.'s accounting year ends December 31. Lease Liability Schedule b. Prepare a schedule of the lease liability for the 4-year lease term. - Note: Round each amount in the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. d. Prepare the entries for Lessee Inc. on January 1 and December 31 of the first two years of the lease term, assuming Lessee Inc.'s accounting year ends December 31. - Note: Round your answers to the nearest whole dollar
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