Natick Industries leased high-tech Instruments from Framingham Leasing on January 1, 2021. Natick has the optlon to renew the lease at the end of two years for an additional three years. Natick is subject to a $60,000 penalty after two years if it falls to renew the lease. Framingham Leasing purchased the equipment from Waltham Machines at a cost of $255,164. (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 approprlate entrles for Natick Industrles from the beginning of the lease through March 31,2021 . Approprlate adjusting entrles are made quarterly. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermedlate calculations and final answers to the nearest whole dollar.)