Question: on december 3 1 , 2 0 2 3 , regan incorporated signed a lease with silver leasing company for some equipment having a seven

on december

31, 2023,

regan incorporated signed a lease with silver leasing company for some equipment having a seven

-

year useful life. The lease payments are made by reagan annually, beginning at the signing date. title does not transfer to the lessee, so the equipment will be returned to the lessor on December

31, 2029 .

there is no purchase option, and reagan guarantees a residual value to the lessor on termination of the lease.

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