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Join nowIncome from Leased Machinery/Equipment
How do you set up income from leased machinery/equipment? I assume you need a fixed asset account for Leased or Rented Equipment, an income account, and an item for the invoice. I also assume the equipment would be depreciated. There will be a buyout at the end for the customer.
Just want to check if this is correct and what entries to make.
Thank you!
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