Intermediate Accounting Practice
Intermediate Accounting Title — Accounting Practice (中级会计实务, China)
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An enterprise enters into a sale and leaseback transaction for an equipment item. Under CAS 14 and CAS 21, the transfer of the asset does not satisfy the requirements to be accounted for as a sale (control has not been transferred to the buyer-lessor). How should the seller-lessee account for the cash received?
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