Eye Deal Optometry leased vision-testing equipment from Insight Machines on Jenuary 1, 2018. Insight Machines manufactured the equipment at a cost of $320,000 and lists a cash selling price of $437.424 Appropriate adjusting entries are made quarterly (EY of51. PY ot S1. EVA ot S1. PVA.otS1. EVAD of $1 and PVAD of St (Use appropriate factorts) from the tables provided.) Related Information Lease ter Quarterly lease payments Econoeic life of asset Interest rate charged by the lessor 5 years (20 quarterly periods) $24,e00 at Jan. 1, 2018, and at Mar. 31, June 30, Sept. 38, and Dec. 31 thereafter s years 4% Required: 1. Prepare appropriate entries for Eye Deal to record the arrangement at its beginning. January 1, 2018, and on March 31, 2018. 2. Prepare appropriate entries for Insight Machines to record the arrangement at its beginning. Jenuary 1, 2018, and on March 31, 2018 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare appropriate entries for Eye Deal to record the arrangement at its beginning, January 1, 2018, and on March 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date General Journal Debit January 01 2018 437.424 Right-of-use asset Lease payable 437 424 January 01 2018 24,000 Lease payable K Prev 5 of 5 Next >