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Maker Corporation manufactures imaging equipment. Easy Leasing purchased an MRI machine from Maker for $950,000 and leased it to Imaging Group on January 1, 2024

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Maker Corporation manufactures imaging equipment. Easy Leasing purchased an MRI machine from Maker for $950,000 and leased it to Imaging Group on January 1, 2024 1. How should the lease be classified by Imaging Group and by Easy Leasing? 2. Please provide appropriate entries for both Imaging Group and Easy Leasing from the beginning of the lease through the third rental payment on July 1,2024. 3. Assume that Imaging Group leased the machine directly from the manufacturer, Maker Corporation, which produced the machine at a cost of $650,000. Prepare appropriate journal entries for Maker Corporation from the beginning of the lease through the third lease payment on July 1,2024 . Maker Corporation manufactures imaging equipment. Easy Leasing purchased an MRI machine from Maker for $950,000 and leased it to Imaging Group on January 1, 2024 1. How should the lease be classified by Imaging Group and by Easy Leasing? 2. Please provide appropriate entries for both Imaging Group and Easy Leasing from the beginning of the lease through the third rental payment on July 1,2024. 3. Assume that Imaging Group leased the machine directly from the manufacturer, Maker Corporation, which produced the machine at a cost of $650,000. Prepare appropriate journal entries for Maker Corporation from the beginning of the lease through the third lease payment on July 1,2024

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