Moore Company leased non$-$specialized equipment to Johnson Construction Corporation for quarterly lease payments of $$5,376$ over a $10-$year lease term, with the first payment on July $1,$ the beginning of the lease. The annual interest rate is $8\%.$ Both the present value of the lease payments and the cost of the asset to the lessor are $$150,000.$

Required:

a$.$ What would be the amount of interest expense the lessee would record in conjunction with the second quarterly payment on October $1?$

b$.$ What would be the amount of interest revenue the lessor would record in conjunction with the second quarterly payment on October $1?$