For fund financial statements, what account is credited when a piece of equipment is leased...
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Accounting
For fund financial statements, what account is credited when a piece of equipment is leased on a capital lease?
a) Other Financing Sources-Capital Lease
b) Encumbrances-Long Term
c) Encumbrances-Lease Obligations
d) Equipment-Capital Leas
e) Capital Lease Obligation
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