Diablo Company leased a machine from Juniper Corporation on January 1, 2021. The machine has a fair value of $15,000,000. The lease agreement calls for four equal payments at the end of each year in the amount of $4,938,517. The useful life of the machine was expected to be four years with no residual value. The appropriate interest rate for this lease is 12%. Required: 1. Prepare the journal entry for Diablo Company at the beginning of the lease. 2. Prepare the journal entry for the first lease payment (ignore amortization). 3. Prepare the journal entry for the second lease payment (ignore amortization). (For all requirements, If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) View transaction list Journal entry worksheet < 1 2 3 Record the entry for Diablo Company at the beginning of the lease. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal epare the journal entry for Diablo Company at the beginning of the lease. 2. Prepare the journal entry for the first lease payment (ignore amortization). 3. Prepare the journal entry for the second lease payment (ignore amortization). (For all requirements, If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) View transaction list Journal entry worksheet 2 3 Record the entry for the first lease payment. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal Prepare the journal entry for the second lease payment (ignore amortization). or all requirements, If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Ound your answers to the nearest whole dollar amounts.) View transaction list Journal entry worksheet < 1 2 3 Record the entry for the second lease payment. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit View general journal Record entry Clear entry