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If a city acquires a new office building under a capital lease agreement,

1)The cost of the building should be reported in the __

2)The "cost" of the building is computed as ____

3)A governmental fund should record the cost of the building as an expenditure, offset by a credit to_____

4)The liability for the capital lease should be recorded in the _____

5)The liability should be computed as ____

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9431587

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