Burgess Limited accepts a lease incentive to enter into a 3-year operating lease for a building. The incentive is a cash amount of $5000 received on signing of the lease agreement. The lessee initially records this transaction as follows:

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The Answer of Burgess Limited accepts a lease incentive to enter into a 3-year operating lease for a building. The incentive is a cash amount of $5000 received on signing of the lease agreement. The lessee initially records this transaction as follows:

Burgess Limited Accepts a Lease Incentive to Enter into a 3-Year