6 285 points Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1, 2021. International Machines manufactured the equipment at a cost of $103,000. Manufacturers Southern's fiscal year ends December 31. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) eBook Hint References Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate. 2 years (8 quarterly periods) $16,800 at the beginning of each period 2 years $127,650 6% Required: 1. Show how International Machines determined the $16,800 quarterly lease payments. 2. Prepare appropriate entries for International Machines to record the lease at its beginning, January 1, 2021, and the second lease payment on April 1, 2021. 6 Complete us question by enemy your answers in the Laus DEIUW. 2.85 points Required 1 Required 2 Prepare appropriate entries for International Machines to record the lease at its beginning payment on April 1, 2021. (If no entry is required for a transaction/event, select "No journ Round your intermediate and final answers to the nearest whole dollar.) eBook View transaction list Hint References Mc Journal entry worksheet > 1 2 3 Record the lease. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit