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Improvements were made to the leased building on 01.May.2019 at a cost of $ 500,000....

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Accounting

Improvements were made to the leased building on 01.May.2019 at a cost of $ 500,000. The estimated life of the improvement is 20 years. Lease contract terminates on 31.12.2035. Make necessary entries as of 01.05.2019, 31.12.2019 and 31.12.2020.

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