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On January 1, 20x1, lessor leased an office space to lessee. Payments on the lease will be made as follows:
Year Rental Payment
Dec. 31, 20x1 200,000
Dec. 31, 20x2 240,000
Dec. 31, 20x3 260,000
total: 700,000
Requirements:
Problem 1: provide all journal entries in the books of Lessor.
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