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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.
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