QUESTION 2 Provide a journal of the lease expense for the period ended 31 December 2022 The lease commenced on 1 May 2020 and 31 December is the year end. The lease payment is R1200 per month for the first year and R1450 per month for the second year.

QUESTION 2 Provide a journal of the lease expense for the period ended 31 December 2022 The lease commenced on 1 May 2020 and 31 December is the year end. The lease payment is R1200 per month for the first year and R1450 per month for the second year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Provide a journal of the lease expense for the period ended 31 December 2022 The lease commenced on 1 May 2020 and 31 December is the year end. The lease payment is R1200 per month for the first year and R1450 per month for the second year.