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Welcome to Accounting Academy with Fitz and his dog FIFO, where they help people learn more about accounting. Today, they are assisting their friend Paul, who owns a chain of veterinary clinics called Pet Vet. Paul is unsure how to account for changes to his leases after expanding one of his clinics. The new square footage is being added at a higher market rate, resulting in higher costs for the expansion. Fitz and FIFO help Paul navigate these accounting challenges.
