Multiple Choice
When Sunny City makes its annual lease payment on an unpaid lease obligation, the journal entry for the governmental activities accounts will include:
A) A debit to Lease Obligation Payable.
B) A credit to Lease Obligation Payable.
C) A debit to Lease Expense.
D) A debit to Expenditures-Principal of Lease Obligation.
Correct Answer:
Verified
Correct Answer:
Verified
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