Dand Medicai manufactutes lithotripters. Lithotnipsy uses shock waves instead of surgery to eliminate kidney stones. Physicians' Leasing purchased a fithotripter from Hand for $2,450,000 and leased ato Mid-South Utologists Group, lncorporated, on January 1 , 2024 Note: Use tables, Excel, or a financial calculator. (EV of S1, PV of S1, FYA of S1, EVA of S1, EVAD of S1 and EVAD of S1) Required: 1. How should thls lease be classified by Mid-South Urologsts Group and by Physicians' Leasing? 2. Propare approptiate entries for boeh Mid-South Urologists Group and Pfysicians' Leasing from the bepinning of the lease throughi the becoed rental paymient on April 1, 2024 Adjusing entries are recorded at the end of each fiscal year ibecember 3 t) 3. Assunte Mid.South Urologists Group leased the lithotripter drectly from the manufacturec, Rand Medical, which produced the mackine at a cost of \$2. mition. Prepore opproptiate enteies for fand Medical from the beginning of the leose through the second iease payment on April 1,2024. Complete this guestion by entering vour anwwers in the tabs below. a tost el f2.1 mation. Prepare appropriate entries for fland Medical from the beginning of the leese througs the seopnd lease puyment on Aeni. 1,2024. Whole doviar founded to the nearst solter tacher then in millons. Journal entry worksheet Cempiete thin question try entering yeur anmwers in the tabs below. Assme Mid-Seuth Urelagists crocp leased the athotroter drectly feom the manufacturec, Rand Medicat, which produred the machine at a mist of s?. 1 minot. Prepare aptropriate entries for fand Hedical from the begineing of the lesse through the secand lease jayment oe Aprii 1,2024 Nutei if no estry is regumed for e transactibesiesent, saiect "Ho joumal entry roquired in the fint acosunt fielf Enter vour ansisers in whoi delan tounded to the nestest cotar racher than in misone. Shaw iesa de Journal entry worksheet (1) fiesond the keie. Complete this question by entering your answers in the tabs below. Mssume Mideseuth Urologiats Groep leased the itokeripter directy from the manufacturer, Fand Medical, which bredurns the machine at a cost of 42.1 milion. Frepare appcopriate entries for Rand Mectical from the begiveing of the lease through the stcond lease payment on Apili 1,2024. fuiter if ro entry is requiced for a transaction/event, seled. "Ns journal entry requiced" in the first acceunt fiels. Enter your answers in. whibis aotiars ruunded to the fieariat dellar rather than in mitions. Journal entry worksheet Afsond cath recelved. hula beted dutad ectire aveuts. Compiete this question by entering your anwwers in the tabs below. dusume Mid-5outh Urologists Group ieased the athotripter dreaty from the mampactures Rend Medical, which probared the machint at a cort of $2,1 milion. Prepare appropriete enteries for Rand Medical from the seginning of the lease through the second lease payminent on Apris 1,2024 Frotei if no entry is reguired for a transoctionsenent, select "Wo journal entry requires" in the fint occount field, Enter your answert in whole dallars rounded in the fitares dellar rather than himilions. Journal entry worksheet Recerd cash recelyed
