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Find what is the necessary entry at the end of the term

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Problem 1: The guaranteed residual value is 100,000 and the expected payment after the lease term of the lessee related to the value is 40,000 which is accounted as part of the lease liability. What is the necessary entry at the end of the term if the fair value of the leased asset is 50,000?

Reference no: EM132937431

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