Bought fixed asset and rented to my customers


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Hi, would any one please advise the proper accounting treatment for the below?

-My company bought some televisions and has recognized them as fixed assets in its company book. Later, it decided to borrow out for the televisions for 24 months and receives rental incomes monthly.
-The accounting booking that we have now is 1) recognize television as PPE, 2) PPE depreciation, 3) recognize lease income per IFRS 16.

Is the above approach proper?

Thanks.
 
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