Is it possible for the system to generate journal for deferred interest in Lease assets?
I would like to know if the system has ability to generate deferred interest for lease asset. For instance, instead of showing accounting entries for lease asset addition as Dr. ROU cost, Cr. Lease Liability, would the system be able to include accounting for deferred interest as well? Kindly view example below.
Lease Asset Additions
Dr. ROU Cost
Dr. Deferred Interest
Cr. Lease Liability
Lease Interest Expense
Dr. Lease Interest
Cr. Deferred Interest
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