Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1, 2016. International Machines manufactured the equipment at a cost of $94,000. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Prepare appropriate entries for International Machines to record the lease at its inception, January 1, 2016, and the second rental payment on April 1, 2016. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list