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Write journal entries to record such transactions

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Problem 1: Lease A signed n operating contract with lesser B to lease a building for 10 Years. Annual lease payment is due on the end of year 31/12 December. $162745 increment borrowing rate of 10%. The present value of lease payment is $15m. The remaining economic years being 20 years and estimated fair value of the building is $2m. Write journal entries to record such transactions

Reference no: EM132832434

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