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Miley Block, Inc. is a building consultant. Shown below are (a) several accounts in her ledger with each account preceded by an identification number, and (b) several transactions completed by Block. Indicate the accounts debited and credited when recording each transaction by placing the proper account identification numbers to the right of each transaction.
Lease Assignment
The transfer of lease rights and obligations from the original tenant to another party.
Renewal Term
The period for which a contract or agreement, such as a lease or license, is extended beyond its original term.
Unpaid Rent
The amount of money that a tenant owes to a landlord for occupying property or space that has not been paid by the due date.
Surrender Agreement
A legal document outlining the terms under which one party agrees to surrender rights, property, or interest to another party.
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