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Recording Entries for Sinance Lease- - wo kesidual to have no residual value The equip...

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Accounting

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Recording Entries for Sinance Lease- - wo kesidual to have no residual value The equip neng has an eatimuted economic life of flwe years a. How would the company classify the iebse b. Hirpure a sonedun of the ifase hibaloy tor 1 c. Prepare the entries for Ashe on (1) January 1 to record commencement of the lease and the frat lease puyment, and (z) December 31 to record the wo year end adjusting ectries - Note; Round your answers to the nearest whole dollar

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