Rand Medicel manuftectures lithotripters. Uehotripsy uses shock waves insteod of surgery to eliminate kidney stones. Physicians' Leasing purchased a lithotripter from Rand for $2,450,000 and leased it to Mid-South Urologists Group, Incorporated, on January 1, 2024. Note: Use tables, Excel, or a financial calculator: (FV of \$1, PV of \$1, EVA of S1, PVA of \$1, FVAD of \$1 and PVAD of 51] Required: 1. How should this lease be classified by Mid-South Lrolegists Group and by Physicians' Leasing? 2. Prepare approprinte entries for both Mia-South Urolagists Croup and Pivalians' Leasing trom the beginning of the lease through the socond tental piyment on Apeil 1, 2024. Adjusting enties are recerded at the end of each fiscalyear (December 34. 3. Assume Md-South Utologists Group leased the lithotripter directly from the manufacturer. Rand Medical, which produced the machine at a cost of $2.1 milion. Prepare appropeiate entres for Rand Medical from the beginning of the leace through the second lease payment on Aprit 1, 2024. Complete this guestian by entering your answers in the tabs belew. Fispare aperopuiate entries for Physicans' Lesaing from the beginning of the lesse through the second rental payment en Apre 1,2024. Adjusting entrits are recorded at the end of each fiscal year (December 31 ) whole dellars rpanced to the nearest dollar rether than in milions. Fieste appropriate entries for Phrsicians' Leasing frum the beginving of the lease theogh the second rental poyment on Aeril 1,2024. At.4sting eofrins are recorded at the end of each fiscal year (Becember 31 ). histe. Ir no entyy is reguned for a transactorveveif, select "No joumal entry requind" in the first account feld. Enter your antmers in whele dolians rounded to the flearest dollar father than in minions. Biren lesen Journal entry worksheet Aecord the lease. Kepare apprypriate entries for Physldans' Lessing from the beginning of the lease through the second rental payment on Apni 1,2024. Mojusting entrins are recorded at the end of each fiscal year (December 31). hote. If Ho entry is recuired for a transactionderent, select "Ho journat entry required" la the first accoura feld, Fiter your answers in ahale doliars rounded to the nearest deltar father than in mitions. Journal entry worksheet Recurd the cash received Wia in the debta letars creder aj vutiong entins an cecorded at the ehs of each fiacal pear (Dectinger 31). Journal entry woricsheet llecond the cash received kise freyt dehtio hehice cieres