Eye Deal Optometry leased vision-testing equipment from Insight Machines on January 1, 2021. Insight Machines manufactured the equipment at a cost of $370,000 and lists a cash selling price of $425,235. Appropriate adjusting entries are made quarterly. (FV of $1. PV of $1, EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease tern Quarterly lease payments Economic life of asset Interest rate charged by the lessor Required: 5 years (20 quarterly periods) $27,750 at Jan. 1, 2021, and at Mar. 31, June 30, Sept. 30, and Dec. 31 thereafter 5 years 129 1. Prepare appropriate entries for Eye Deal to record the arrangement at its beginning, January 1, 2021, and on March 31, 2021. 2. Prepare appropriate entries for Insight Machines to record the arrangement at its beginning. January 1, 2021, and on March 31, 2021 Journal entry worksheet < 2 3 4 Record the beginning of the lease for Eye Deal. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Journal entry worksheet < 2 3 4 Record the lease payment made by Eye Deal on January 1, 2021. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Journal entry worksheet < 1 2 3 4 Record the lease payment made by Eye Deal on March 31, 2021. Note: Enter debits before credits. Date March 31, 2021 General Journal Debit Credit Journal entry worksheet < 1 2 3 4 Record amortization of the right-of-use asset for Eye Deal. Note: Enter debits before credits. Date March 31, 2021 General Journal Debit Credit Journal entry worksheet < 2 Record the beginning of the lease for Insight Machines. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Journal entry worksheet 1 2 3 Record the lease payment received by Insight Machines on January 1, 2021. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Journal entry worksheet < 2 3 Record the lease payment received by Insight Machines on March 31, 2021. Note: Enter debits before credits. Date March 31, 2021 General Journal Dobit Credit