Manufacturers Southem leased high-tech electronic equipment from International Machines on January 1, 2021. International Machines manufactured the equipment at a cost of \$88,000. Manufacturers Southern's fiscal year ends December 31. (FV of \$1. PV of S1. FVA of S1. PVA of \$1, FVAD of S1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided.) Required: 1. Show how international Machines determined the $15.700 quarterly lease payments. 2. Prepare oppropriate entries for International Machines to record the lease at its beginning. January 1, 2021, and the second lease payment on April 1, 2021. Complete this question by entering your answers in the tabs below. Show how International Machines determined the $15,700 quarterly lease payments. (Round your intermediate and final answers to the nearest whole dollar. Round your percentage answer to 1 decimal place.) Required: 1. Show how International Machines determined the $15,700 quarterly lease payments, 2. Prepare appropriate entries for International Machines to record the lease at its beginning. January 1, 2021, and the second lease payment on April 1, 2021 Complete this question by entering your answers in the tabs below. Show how International Machines determined the $15,700 quarterly lease payments: (Round your intermedlate and final answers to the nearest whole dollar, Round your percentage answer to 1 decimal place.) Prepare appropriate entries for International Machines to record the lease at its beginning, January 1, 2021, and the sec payment on April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first Round your intermediate and final answers to the nearest whole dollar.) Journal entry worksheet 3 Prepare appropriate entries for International Machines to record the lease at its beginning, January 1, 2021, and the payment on April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the Round your intermediate and final answers to the nearest whole dollar.) Journal entry worksheet Prepare appropriate entries for International Machines to record the lease at its beginning, January 1,2021 , and the sec payment on April 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first a Round your intermedlate and final answers to the nearest whole dollar.) Journal entry worksheet 1