On 1/7/2018, the Jordanian company rented equipment from Al-Nasr Company for a period of 10...
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Accounting
On 1/7/2018, the Jordanian company rented equipment from Al-Nasr Company for a period of 10 months. For a monthly rent of 4,000 dinars, paid in advance at the beginning of each month. The Jordanian company also paid various expenses to complete the contract amounting to 800 dinars, of which 400 dinars are direct expenses and the rest are indirect expenses.
Required: A statement of the accounting treatment for the above in the books of the lessee.
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