Hello all, When the lease is capitalized the PV of payments is added to both sides of the balance sheet, however what would the asset part be classified as, ie what would the journal entry be? Thanks
Debit - lease asset Credit - lease liability
Hello all, When the lease is capitalized the PV of payments is added to both sides of the balance sheet, however what would the asset part be classified as, ie what would the journal entry be? Thanks
Debit - lease asset Credit - lease liability