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On January 1, 2010, Scarlett Signed a Lease Agreement with Amber.Amber

Question 97

Multiple Choice

On January 1, 2010, Scarlett signed a lease agreement with Amber.Amber will use the equipment and make ten annual payments of $15, 000 beginning December 31, 2010.The lease is considered to be a sales-type lease.When reading the Scarlett income statement, you would expect to find which of the following accounts?


A) Rent Revenue
B) Interest Revenue
C) Rental Expense
D) Interest Expense

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