On January 1, 2013, Industria Fonseca SA takes a piece of equipment on lease with Arrendadora del
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Question:
a) Describe the nature of the lease contract and evaluate the criteria.
b) Prepare the amortization table, covering the lease term.
c) Make all journal entries for the year 2013 and 2014
d) Make all journal entries corresponding to the year 2017, taking into account that Industria Fonseca SA makes use of the purchase option
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