Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2016. Edison purchased the equipment from International Machines at a cost of $252, 192. Manufacturers Southern elected the short-term lease option. Appropriate adjusting entries are made annually. Respond to the question with the presumption that the guidance provided by the proposed Accounting Standards Update is being applied. Required: Prepare appropriate entries for Manufacturers Southern from the beginning of the lease through December 31, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)