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Based on the information provided above, what are the journal entries on the lease termination date of December 31, 2028, assuming that Nice must pay the guaranteed residual value.
Capital Structure
The composition of a company's funding via debt and equity, outlining how it finances its operations and growth.
Debt
An amount of money borrowed by one party from another, to be paid back with interest.
Finance Operations
Activities related to managing an organization's money, including income and expenses, to maximize profits and ensure sustainability.
Capital Structure
The mix of a company's debt and equity financing, reflecting how a business is funded.
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