Two independent situations follow: 1. Ready Car Rental leased a car to Grouper Company for three months. Terms of the lease agreement call for monthly payments of $690, beginning on May 21, 2024. Grouper reports using ASPE. 2. On January 1, 2024, InSynch Ltd. entered into an agreement to lease 60 computers from Sheridan Electronics. The terms of the lease agreement require three annual payments of $40,694 (including 3.5% interest), beginning on January 1, 2024. The present value of the three payments is $108,560 and the market value of the computers is $110,560. InSynch Ltd. reports using IFRS. Prepare the journal entries that Grouper Company should make on May 21, 2024 and Insych Ltd. should make on January 1, 2024 to record the lease agreement. (List all debit entries before credit entries. Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) No. Account Titles 1. Leased Asset-Vehicles Lease Liability 2. Leased Asset-Equipment Right-of-Use Asset Lease Liability Save for Later Debit 690 108560 Credit 690 Attempts: 1 of 2 used Submit Answer