The Journal Entry Recorded by the Lessee When the Payment

question 3

Multiple Choice

The journal entry recorded by the lessee when the payment is made at the end of the first year is:

• A)Dr Interest expense 4 225 Dr Lease liability 18 775
• Cr Cash 23 000
• B)Dr Lease liability 4 225 Dr Interest expense 18 775
• Cr Cash 23 000
• C)Dr Interest expense 1 610 Dr Lease liability 21 390
• Cr Cash 23 000
• D)Dr Lease liability 1 610 Dr Interest expense 21 390
• Cr Cash 23 000

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Definitions:

Global Competence

The ability to understand and act on issues of global significance; effectively communicate and work with people from different cultural backgrounds.

Cross-cultural Competencies

Are skills and abilities that enable individuals to effectively interact, work, and communicate in diverse cultural environments.

Relationship Competencies

Skills and abilities that enable an individual to establish, develop, maintain, and enhance positive interpersonal relationships in a work setting.

Perceptual Competencies

Skills related to the ability to interpret, understand, and respond appropriately to how we perceive sensory inputs and experiences.