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peep232 peep232
wrote...
Posts: 100
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5 years ago
LMN made the following journal entry relating to a finance lease:
Cash......................... .. XXXX
Lease receivable.............. XXXX
Interest revenue.............. XXXX
Therefore, LMN must be the:
A) third party guarantor.
B) lessee.
C) lessor.
D) either the lessee or lessor.
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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wrote...
5 years ago
C
peep232 Author
wrote...
5 years ago
Thanks for your help!
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