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Expense for the first year related to the improvements

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Crestfield leases office space for $6,000 per month. On January 3, the company incurs $25,000 to improve the leased office space. These improvements are expected to yield benefits for 4 years. Crestfield has 2 years remaining on its lease. What journal entry would be needed to record the expense for the first year related to the improvements?

Reference no: EM132043958

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