Eye Deal Optometry leased vision$-$testing equipment from Insight Machines on January $1,2021.$ Insight Machines manufactured the equipment at a cost of $$400,000$ and lists a cash selling price of $$459,714.$ Appropriate adjusting entries are made quarterly. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)($Use appropriate factor$($s$)$ from the tables provided.$)$Required:

Prepare appropriate entries for Eye Deal to record the arrangement at its beginning, January $1,2021,$ and on March $31,2021.$

Prepare appropriate entries for Insight Machines to record the arrangement at its beginning, January $1,2021,$ and on March $31,2021.$