Question: On January 1, 2011, West Co. entered into a ten-year lease for a manufacturing plant. The annual minimum lease payments are $100,000. In the notes

On January 1, 2011, West Co. entered into a ten-year lease for a manufacturing plant. The annual minimum lease payments are $100,000. In the notes to the December 31, 2012 financial statements, what amounts of subsequent years’ lease payments should be disclosed?

Amount for appropriate required period Aggregate amount for the lease term

a. $100,000 $0

b. $300,000 $500,000

c. $500,000 $800,000

d. $500,000 $0

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