Exerclse 15-8 (Algo) Sales-type lease with selling proflt; lessor; calculate lease payments [LO15-3] Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1, 2021. International Machines manufactured the equipment at a cost of $94,000. Manufacturers Southern's fiscal year ends December 31 . (FV of $1. PV of $1. FVA of \$1. PVA of $1. FVAD of $1 and PVAD of $1 ) (Use approprlate factor(s) from the tables provlded.) Requlred: 1. Show how International Machines determined the $18,200 quarterly lease payments. 2. Prepare appropriate entries for International Machines to record the lease at its beginning. January 1, 2021, and the second lease payment on April 1, 2021. Show how International Machines determined the $18,200 quarterly lease payments. (Round your intermediate and fin: answers to the nearest whole dollar. Round your percentage answer to 1 decimal place.) Journal entry worksheet Note: Enter debits before credits. Prepare appropriate entries for International Machines to record the lease at its beginning, January 1, 2021, and the second lease payment on April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.) Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits