I just need help answering the second question on how to record the initial entry for the lessor, with the new accounting standards.

Eye Deal Optometry leased vision-testing equiment from Insight Machines on January 1 . 2018. Insight MachinIs manufacmred thI equipment at a cost of $390,000 and lists a cash selling price of $533,111. Appropriate adjusting entriIs are maoI quarterly. (FV of $1, W of$1 FVAofSl PVAof $1. FVAD of$1Ind WAD of 51) (Use appropriate lactorls) mm the tables provided.) Related Information: Leam term 5 yeem [20 quarterly perieds) Quarterly lease payments 929,250 at Jan. 1' 201 B. and at Mar. 31, June 30, Sept. 30, and Dec. 31 lhereaer. Economic life of asset 5 years Interest rate charged by the lessor 4% Required: 1. Prepare appropriate entries for Eye Deal to retard the arrangement at its beginning, January 1, 2015, am on March 31, 2018. 2. Prepare appropriate entries for Insight Machines in record the arrangement at its beginning. January 1. 2018, and on March 31. 2018. Complete this question by enterlng your answers In the tabs below. ' Requiredt ' RequiredZ