Scape Corp. manufactures telephony equipment. Scape leased equipment to User, Inc. on January 1, 2021. Scape produced the equipment at a cost of $4,200,000. $ 469,857 at beginning of each period 5 years (20 quarters) Lease description: Quarterly rental payments Lease term No residual value; no BPO Economic life of equipment Implicit interest rate and lessee's incremental borrowing rate Fair value of asset 5 years 12% $7,200,000 Required: Prepare appropriate entries for both User and Scape from the beginning of the lease through the second rental payment on April 1, 2021. Depreciation and amortization are recorded at the end of each fiscal year (December 31)