Question 4On January 1, 2024, Santee Company leased equipment, with a fair value of $25,771, to Bellimoso Company under a 3-year lease. The economic life of the asset is 4 years. The prosentvalue of the lease payments equals $25,771 and $10,000 in annual lease payments are due at the beginning of each year of the lease, beginning January 1, 2024, An implied discount rate of8% is assumed. Santee's entry to record the lease on January 1, 2024 includes what components? (Choose all that apply)OA. debit lease receivable $25,771B. credit equipment $25,771OC.debil ROU asset 25,771OD.credit lease liability $25,771

The question presents a scenario where Santee Company (the lessor) has leased equipment with a fair…

Answered: Question 4 On January 1, 2024, Santee…

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