b. On Jan 1, 2015, Milan Co. leased a warehouse building under a 6-year lease agreement. The lease agreement requires quarterly payments of $3,000. The first lease payment is due on April 1, 2015. The current annual interest rate is 12%. I. (3 pts) What, if any, is the journal entry recorded on January 1, 2015 assuming the lease was reported as a capital lease? Ref/Date Accounts Dr Description: II. (3 pts) What, if any, is the journal entry recorded on April 1, 2015 assuming the lease was reported as a capital lease? Ref/Date Accounts Description: III. (3 pts) What, if any, is the journal entry recorded on January 1, 2015 assuming the lease was reported as an operating lease? Ref/Date Accounts Description