1-5 please. my answers were incorrect

Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2016. Edison purchased the equipment from International Machines at a cost of $250,952. Manufacturers Southern elected the short-term lease option. Appropriate adjusting entries are made annually. Related Information: Lease term 1 years (4 quarterly periods) Quarterly lease payments $17,500 at Jan. 1, 2016, and at Mar. 31, June 30, Sept. 30. Economic life of asset 5 yea rs Interest rate charged by the lessor 8% Respond to the question with the presumption that the guidance provided by the proposed Accounting Standards Update is being applied. Required: Prepare appropriate entries for Manufacturers Southern from the beginning of the lease through December 31, 2016. (If no entry ls required for a transactionfevent, select "No journal entry required" in the first account field.) View transaction list 0 Record the lease. Record the lease payment Record the lease payment Record the lease payment Record the lease payment a