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A journal entry is not required for either the lessor or lessee when an operating lease is initiated unless there is an advance payment, such as a lease bonus or prepayment of rent in addition to the periodic rents.
Q31: In determining basic earnings per share, the
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Q67: On January 20X2, ABC Corporation issued $1,000,000
Q69: ML leased a computer to LH on
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Q125: The increases in account balances of XYZ