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Determine the amount of lease expense

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Reference no: EM131705150

Question: Bridget's Bakery Inc. enters into a new operating lease for a 10-year term at a monthly rental of $2,500. To induce Bridget's Bakery into the lease, the lessor agreed to a free-rent period for the first three months.

Required: Determine the amount of lease expense, if any, that Bridget's Bakery would recognize in the first month of the lease.

Reference no: EM131705150

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