manufacture $1, PVA of $1, d the equipment at a cost of $101,000. Manufacturers Southern's fiscal year ends Dec FVAD of $1 and PVAD of $) (Use appropriate factor(s) from the tables provided,) h electronic equipment from International Machines on January 1, 2018. International Machines ember 31. (FV of $1, PV of $1, FVA of Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate 2 years (8 quarterly periods) $18,000 at the beginning of each period 2 years $132,289 108 Required: 1. Show how International Machines determined the $18.000 quarterly lease payments Prepare appropriate entries for International Machines to record the lease at its beginning, January 1, 2018, and the second lease payment on April 1, 2018. Complete this question by entering your answers in the tabs below Required 1 Required 2 Show how International Machines determined the $18,000 quarterly lease payments. (Round your intermediate and final answers to nearest whole dollar.) factors based on Table or Calculator function: PV of Lease PV of $1 Lease Payment Required 1 Required 2> Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1, 2018. International Machines manufactured the equipment at a cost of $101,000. Manufacturers Southern's fiscal year ends December 31. (FV of $1, PV of $1, FVA of $1, PVAof$1. EVADOf$1 and PVADOS) (Use appropriate factor(s) from the tables provided.) Related Information Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate 2 years (8 quarterly periods) $18,000 at the beginning of each period 2 years $132,289 108 Required: 1. Show how international Machines determined the $18,000 quarterly lease payments. 2. Prepare appropriate entries for International Machines to record the lease at its beginning. January 1, 2018, and the second lease payment on April 1, 2018 Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare appropriate entries for International Machines to record the lease at its beginning, January 1, 2018, and the second lease payment on April 1, 2018. (If no entry is required for a transaction/event, select No journal entry required" in the first account field. Round your intermediate and final answers to nearest whole dollar.) View transaction list 1 Record the lease. 2 Record cash received. 3 Record cash received. t Prey 2 of 5 Next >