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NSC | Lease Interest Expense Account
Scenario:
The user is unable to utilize the Interest Expense Account for Operating Leases.
Explanation:
The recording of Interest Expense for an Operating Lease follows standard behavior, which includes the following interest journal line:
- Debit to Accumulated Depreciation – Right-Of-Use Asset
- Credit to Lease Liability
The General Ledger accounts utilized in the interest journal are drawn from the accounts specified in the Posting Reference subtab of the Lease record.
Hope this helped!
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