The question is below i need the answer asap for all the steps thank you

C Che Log Log Con 218 4 : Sk Log Mcc Tha Vac CO . Isla N Net h Hul You SIX C Nev GNev C Nev G New SIDI Pau C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmgh... G ES Homework Assignment 4 i Saved Help Save & Exit Submit Problem 15-14 (Algo) Lessee and lessor; lessor; sales-type lease with selling profit; residual value [LOTS- 2, 15-3] Newton Labs leased chronometers from Brookline Instruments on January 1, 2021. Brookline Instruments manufactured the chronometers at a cost of $310,000. The chronometers have a fair value of $355,157. Appropriate adjusting entries are made quarterly. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 10 points Related Information: Lease term 5 years (20 quarterly periods ) Quarterly lease payments $ 22, 548 at Jan. 1, 2021, and at Mar. 31, June 30, Sept. 30, and Dec. 31 thereafter. Economic life of asset 6 years Estimated residual value of chronometers at end Ask of lease term $17, 403 Interest rate charged by the lessor 128 Print Required: 1. Prepare appropriate entries for Newton Labs to record the arrangement at its commencement, January 1, 2021, and on March 31, 2021. 2. Prepare appropriate entries for Brookline Instruments to record the arrangement at its commencement, January 1, 2021, and on March 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare appropriate entries for Newton Labs to record the arrangement at its commencement, January 1, 2021, and on March 31, 2021. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate and final answers to nearest whole dollar.) View transaction list Journal entry worksheet Mc Graw Hill Education