Rand Medical manufactures lithotripters Lithotripsy uses shock waves instead of surgery to eliminate kidney stones Physicians Leasing purchased a lithotripter from Rand for $2020,000 and leased it to Mid-South Urologists Group, Inc., on January 1, 2021 (Ey of $1. V or $1 EVA or $1. PVA of $1. EVAD of $1 and PVAD of 5) (Use appropriate factor(s) from the tables provided.) Deceipt Quarterly ease payments $131,621-beginning of each perfod ten 5 years (24 quarters) No Widual values no purchase option concof. 13thotripter 5 years plicte interest rate and losse incremental borrowing cate 121 Evaluate 52,20 Required: 1. How should this lease be classified by Mid-South Urologists Group and by Physicians Lessing? 2. Prepare appropriate entries for both Mid-South Urologists Group and Physicians' Leasing from the beginning of the lease through the second rental payment on April 1. 2021 Adjusung entries are recorded at the end of esch fiscal year December 311 3. Assume Midsouth Urologists Group lessed the lithotripter directly from the manufacturer, Rand Medical which produced the macrone at a cost of $17 million. Prepare appropriate anules for Rand Medical from the beginning of the lease trough the second leate payment on April 1, 2021 Complete this question by entering your answers in the tabu below. Required Required 2 Les Required Lester Reduled Had this be classified by Mid-South Urologiste noua and by Physician Ling! ORACLE