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A city government holds a six-year capital lease for property being used within the General Fund.Minimum lease payments total $70,000 starting next year but have a current present value of $49,000. What is the total amount of other financing sources to be recognized on the fund-based financial statements over this six-year period?

a. $-0-.

b. $49,000.

c. $70,000.

d. $119,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M956235

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