A Government enters into a six-month lease of equipment. The government does not have an option to

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A Government enters into a six-month lease of equipment. The government does not have an option to extend the lease. What account should be debited to record first months payment on the lease?

A. Other financing use - leases

B. Expenditures - leases

C. Expenditures - lease principal

D. Expenditures - lease interest

e. None of the above

Related Book For answer-question

Business Law Principles and Practices

ISBN: 978-1133586562

9th edition

Authors: Arnold J. Goldman, William D. Sigismond

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Posted Date: Apr 02, 2019 10:22 AM

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A Government enters into a six-month lease of equipment. The government does not have an option to

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Expert Answer:

B Expenditure Leases Since the lease is for six mont... View the full answer

Business Law Principles and Practices

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