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Manufacturers Southern leased high-tech electronic equipment from Internatlonal Machines on January 1, 2024. International MachInes manufactured the equipment at a cost of $91,000. Manufacturers Southern's
Manufacturers Southern leased high-tech electronic equipment from Internatlonal Machines on January 1, 2024. International MachInes manufactured the equipment at a cost of $91,000. Manufacturers Southern's fiscal year ends December 31. Note: Use tables, Excel, or a financlal calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 ) Requlred: 1. Show how International Machines determined the $15,300 quarterly lease payments. 2. Prepare approprlate entrles for International Machines to record the lease at Its beginning, January 1, 2024, and the second lease payment on Aprll 1, 2024. Complete this question by entering your answers in the tabs below. Show how International Machines determined the $15,300 quarterly lease payments. Note: Round your intermediate and final answers to the nearest whole dollar. Round your percentage answer to 1 decimal place. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits
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