Scape Corp. manufactures telephony equipment. Scape leased equipment to User, Inc. on January 1, 2018. Scape produced the equipment at a cost of $6,000,000. Leane description Quarterly rental payments $466,510 at beginning of each period Lease term 6 years (24 quarters No residual value; no BPO Economie life of equipment 6 years Implicit interest rate and lessee's incremental borrowing rata 88 Fair value of asset $9,000,000 Required: Prepare appropriate entries for both User and Scape from the beginning of the lease through the second rental payment on April 1, 2018. Depreciation and amortization are recorded at the end of each fiscal year (December 31). Complete this question by entering your arswers in the tabs below. User Lessee Scope Lessor Prepare appropriate entries for User from the beginning of the lease through the second rental payment on April 1, 2018 Depreciation and amortization are recorded at the end of each fiscal year (December 31), (if no entry is required for a transaction/event, select "No journal entry required in the first account hield. Round your answers to the nearest whole dollar amounts) General Journal Debit January 01, 2018 Equipment 9,000,000 Lease payable 9,000,000 No Date Credit 1 2 466,510 January 01, 2018 Lease payable Cash 466,510 3 April 01, 2018 Interest expense Lease payable Cash 113,780 352,730 466.510 Required: Prepare appropriate entries for both User and Scape from the beginning of the lease through the second rental payment on April 2018. Depreciation and amortization are recorded at the end of each fiscal year (December 31). Complete this question by entering your answers in the tabs below. User Lessee Scape Lessor Prepare appropriate entries for Scape from the beginning of the lease through the second rental payment on April 1, 2018. Depreciation and amortization are recorded at the end of each fiscal year (December 31). (If no entry is required for a transaction/event, select "No journal entry required" in the first account held. Round your answers to the nearest whole dollar amounts.) Show less No General Journal Debit Credit 1 Dato January 01, 2018 Lease receivable Sales revenue 9,000,000 9,000,000 @l 2 January 01, 2018 Cash Lease receivable 00 466,510 466,510 3 April 01, 2018 466,510 Cash Lease receivable Interest revenue 352,730 113.780 User Lessee Bas Lessor