Star 15 in Bree with A Word Mange View Grammar Peres Acrobat Color Thickness Thx Ink to Stop Math Inking Con close Operating Lease-Lessee and Lessor Rheims Power leased high-tech electronic equipment from Lyons Leasing on January 1, 2021. Lyons purchased the equipment from Nguyen Machines at a cost of $75,000 Related Information Lease term 2 years (8 quarterly periods) Quarterly lease payments $7,500 at Jan 1, 2021 and at Mar 31, June 30, Sept 30 and Dec 31 thereafter Economic life of asset Interest rate charged by the lessor Present value of an annuity due of Sl: n-8. - 296 equals 7.47199 5 years 89 Required: Prepare appropriate journal entries for Rheims Power from the commencement of the lease through March 31, 2021. December 31 is the fiscal year end for each company, Appropriate adjusting entries are recorded at the end of each quarter. Round your answers to the Dearest whole dollar amounts