A six-year-finance lease entered into on December 31, 2020, specified equal minimum annual lease payments due on December 31, 2021. Minimum payment applicable to which of the following increased over the corresponding December 31, 2021, minimum payment? (The company is applying SFAS No. 13)
Interest Expense Reduction of Liability
A) Yes Yes
B) Yes No
C) No Yes
D) No No
Correct Answer:
Verified
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