Quiz Company leased equipment to Another Company on October 1, 2020. Qulz Company manufactured the equipment at a cost of $350,000 and recorded the equipment in its inventory available for sale or lease Terms of the lease were as follows: Quarterly payments of $25,000 are due starting October 1, 2020 and every January 1, April 1, July 1, and October 1 thereafter for five . title to the equipment will transfer to Another Company at the termination of the lease Quiz Company's implicitrate in the lease is 8% Quiz Company's fiscal year enda on December 31 The entry by Quiz Company to record the first tease payment on October 1, 2020 would include Acredit to Teace receivable for $8,330 Acredit to las receivable for $25,000 Acredit to cash for $25,000 Acredit to aso receivable for $16.661