A lease capitalized by both parties is signed (inception) on 1/1/x4. The lease term is 10 years. The lease requires annual payments each January 1 starting at inception. Choose the correct statement about the JE to be recorded by the lessee on 12/31/x5. A bargain purchase option in a lease
a. there is no JE to be recorded b. cash is credited c. lease liability is credited d. lease liability is debited e. depreciation is not recorded because the lessor is the legal owner a. causes the lease to be an operating lease b. is included in the net lease receivable at present value c. causes only the lessee to capitalize the lease d. causes the lessor to accept a lower interest rate e. is defined as any purchase option with a 5% or more implied discount
A lease capitalized by both parties is signed (inception) on 1/1/x4. The lease term is 10 years. The lease requires annual payments each January 1 starting at inception. Choose the correct statement about the JE to be recorded by the lessee on 12/31/x5.
A bargain purchase option in a lease
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