Which of the following is an appropriate journal entry for the initial recognition by a lessee of an operating lease arrangement?
a. $\quad$DR Leased asset $\quad$$\quad$$\quad$$\quad$CR Lease liability;
b. $\quad$$\mathrm { DR }$ Lease rental expense $\quad$$\mathrm { CR }$ Cash/Trade payables;
c. $\quad$DR Leased asset $\quad$$\quad$$\quad$$\quad$ CR Cash/Trade payables;
d. $\quad$DR Lease asset $\quad$ $\quad$$\quad$$\quad$$\quad$CR Lease interest expense.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is an appropriate journal entry for the initial recognition by a lessee of an operating lease arrangement?
a. $\quad$DR Leased asset $\quad$$\quad$$\quad$$\quad$CR Lease liability;
b. $\quad$$\mathrm { DR }$ Lease rental expense $\quad$$\mathrm { CR }$ Cash/Trade payables;
c. $\quad$DR Leased asset $\quad$$\quad$$\quad$$\quad$ CR Cash/Trade payables;
d. $\quad$DR Lease asset $\quad$ $\quad$$\quad$$\quad$$\quad$CR Lease interest expense.

Which of the Following Is an Appropriate Journal Entry for the Initial