Newton Labs leased chronometers from Brookline Instruments on January 1, 2024. Brookline Instruments manufactured the chronometers at a cost of $160,000. The chronometers have a fair value of $168,591. Appropriate adjusting entries are made quarterly. Note: Use tables, Excel, or a finanelel caleuletor. (FV of \$1. PV of \$1. FVA of \$1. PVA of \$1. FVAD of \$1 and PVAD of \$1) Requlred: 1. Prepare appropriate entries for Newton Labs to record the arrangement at its commencement, January 1, 2024, and on March 31 . 2024 2. Prepare appropriate entries for Brookline Instruments to record the arrangement at its commencement, January 1,2024 , and on March 31, 2024. Complete this question by entering your answers in the tabs below. Prepare appropriate entries for Newiton Labs to record the arrangement at its commencement, January 1, 2024, and on March 31,2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to nearest whole dollar. Journal entry worksheet 4 Record the beginning of the lease for Newton Labs. Note: Enter debits before credits. Newton Labs leased chronometers from Brookline Instruments on January 1, 2024. Brookline Instruments manufactured the chronometers at a cost of $160,000. The chronometers have a fair value of $168,591. Appropriate adjusting entries are made quarterly. Note: Use tables, Excel, or a flnanclel calculator. (FV of \$1, PV of \$1, FVA of \$1, PVA of \$1. FVAD of \$1 and PVAD of \$1) Requlred: 1. Prepare appropriate entries for Newton Labs to record the arrangement at its commencement, January 1, 2024, and on March 31 , 2024 2. Prepare appropriate entries for Brookline Instruments to record the arrangement at its commencement, January 1, 2024, and on March 31, 2024 Complete this question by entering your answers in the tabs below. Prepare appropriate entries for Brookline Instruments to record the arrangement at its commencement, January 1, 2024, and on March 31,2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to nearest whole dollar