Return to the original facts in the problem. Now suppose that, at the end of...
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Accounting
Return to the original facts in the problem. Now suppose that, at the end of the lease term, Stora Enso took good care of the asset and Sheffield agrees that the fair value of the asset is actually 10,000. Record the entry for Stora Enso at the end of the lease to return control of the storage building to Sheffield (assuming the accrual of interest on the lease liability has already been made).
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