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could use some help thanks Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1,2024, International Machines manufactured the equipment at a cost
could use some help thanks Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1,2024, International Machines manufactured the equipment at a cost of $87,000. Manufacturers Southern's fiscal year ends December 31. Note: Use tables, Excel, or a financial calculator. (EV of \$1. PV of \$1. EVA of S1. PVA of S1. EVAD of S1 and PVAD of S1) Required: 1. Show how International Machines determined the $15,300 quarterly lease payments. 2. Prepare appropriate entries for International Machines to record the lease at its beginning, January 1, 2024, and the second lease payment on April 1, 2024
could use some help thanks
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