Lydia leased a warehouse from Mary and a 3year lease segment was signed. The warehouse is to be leased from 1^st Jan 2018 until 31^st Dec 2020. The total cost of the warehouse is sh. 500,000 with a useful life of 20 years. The term of agreement was to pay sh. 40,000 per year on 1^st Jan each year

Required: show the journal for each of the 3 years for both the lessee and the lessor

Answer rating: 100% (QA)

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