On January 1, 2021, Taco King Jeased retail space from Fogelman Properties. The 10-year finance lease requires quarterly van ble lease payments equal to 2% of Taco King's sales revenue, with a quarterly sales minimum of $410,000. Payments at the beginning of each quarter are based on previous quarter sales. During the previous 5-year period, Taco King has generated quarterly sales of over $655,000. Fogelman's interest rate, known by Taco King, was 8%. (FV of $1. PV of $1. EVA of Si. PVA of 51. EVAD of S1 and PVAD of S1 (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entries for Taco King at the beginning of the lease at January 1, 2021, 2. Prepare the journal entries for Taco King at April 1, 2021. First quarter sales were $665,000 Amortization is recorded quarterly, Book Complete this question by entering your answers in the tabs below. Required 1 Required 2 Print Prepare the journal entries for Taco King at the beginning of the lease at January 1, 2021. (if no entry is required for a transaction/event, select "No journal entry required in the first account field, Round your answers to the nearest whole dollar amount.) References View transaction lit Journal entry worksheet 2 Record the beginning of the late for Taco King Nu er det before Journal entry worksheet Book Hint Record the lease payment for Taco King Print Note: Enter debits before credits ferences Date General Journal Debit Credit April 01, 2021 Hint Record amortization of the right-of-use asset for Taco King. Print Note: Enter debits before credits References General Journal Debit Credit Date April 01, 2021