On January 1, 2018, Wetick Optometrists cost of $1,809,171. The lease lease, and at each payment), is equal to the estimated useful life of the equipment. The contract specifies that lease payments for each year will increase leased diagnostic equipment from Southern Corp. which had purchased the equipment at a specifies sx annual payments of $370,000 beginning January 1, 2018, the beginning of the ber 31, 2023 (a year after the final 31 thereafter through 2022. The six-year lease term ending on the basis of the increase in the C second and subsequent diagnostic equipment for lease to other firms. The interest rate in these PVA of S1. FVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Price Index for the year just ended. Thus, the first payment will be $370,000, and the might be different The CPI at the beginning of the lease is 148. Southern routinely acquires Required: 1. Prepare the appropriate journal entries for Wetick and Southern to record the lease at its beginning 2. Assuming the CPl is 153 at that time, prepare the appropriate journal I entries related to the lease for Wetick at December 31, 2018 for a dollar amount.) appropriate journal entries for Wetick and Southern to record the lease at its beginning. (If no entry is required n/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole Prey 14 of 21 Next