21 Company A leased equipment from Company B on January 1 of the current year. Company B manufactured the equipment at a cost of $250,000 and lists a cash selling price of $312,721. Appropriate adjusting entries are made quarterly. Note: Use tables, Excel, or a financial calculator. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $3 Related Informations Lease term S years (20 quarterly periods) 0:57 Quarterly lease payments $18,750 at January 1, current year, and at March 31, June 30, September 30, and December 31 thereafter Economic life of asset Interest rate charged by the lessor 5 ON years Required: 1. Prepare appropriate entries for Company A to record the arrangement at its beginning, January 1, current year, and on March 31, current year. 2. Prepare appropriate entries for Company B to record the arrangement at its beginning, January 1, current year, and on March 31, current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare appropriate entries for Company A to record the arrangement at its beginning, January 1, current year, and on March 31, currew year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermedia power to the nearest whole.dollar.