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What is the difference in journal entries recorded at the inception date and the second lease payment for the

lessee, if there is "initial direct cost incurred" by the lessor?

Can you illustrate the differences in journal entries (with and without initial direct cost) recorded in the perspective of lessee please?


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The journal entries are passed to record the lease by the lessee when the initial direct costs are paid by... View the full answer

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The journal entries are... View the full answer

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