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Which of the following journals will record this transaction?
ST has sold its main office property, which had a carrying value of $360,000, to AB, a property management entity.
The property was sold for $400,000 which is equal to its fair value and was immediately leased back under an operating lease agreement.
Which of the following journals will record this transaction?
A . Option A
B . Option B
C . Option C
D . Option D
Answer: A
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