Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1 2016. International Machines manufactured the equipment at a cost of S87,000. (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.) Related Information: Lease term Quarterly rental payments $15,172 at the beginning of each period Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years (8 quarterly periods) 2 years $115,280 6% Required: 2. Prepare appropriate entries for Intemational 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 1 Record the lease 2 Record cash received 3 Record cash received Credit Note :journal entry has been entered Record entry Clear entry View general jourmal