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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 image text in transcribed
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

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