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On January 1, 2021, Buster Inc. leased customized commercial printers to Indiana Co. The fair value of those printers on that date was $15 million. The manufacturing cost of the printers was $10 million. The lease payments were $1,850,066 and were to be made on January 1, 2021, then on June 30 and December 31 each year thereafter. The lease term is five years. The implicit interest rate is 10%. Both companies have a December 31 year end Record Indiana Co.'s journal entries necessary on January 1, 2021, June 30, 2021, and December 31, 2021. What is the outstanding balance of the lease after the first payment (on January 1, 2021) and after the second payment (on June 30, 2021)? Record Buster Inc.'s journal entries necessary on January 1, 2021, June 30, 2021, and December 31 a. b. 2021. What would Buster Inc. record as interest revenue for 2021? On January 1, 2021, Buster Inc. leased customized commercial printers to Indiana Co. The fair value of those printers on that date was $15 million. The manufacturing cost of the printers was $10 million. The lease payments were $1,850,066 and were to be made on January 1, 2021, then on June 30 and December 31 each year thereafter. The lease term is five years. The implicit interest rate is 10%. Both companies have a December 31 year end Record Indiana Co.'s journal entries necessary on January 1, 2021, June 30, 2021, and December 31, 2021. What is the outstanding balance of the lease after the first payment (on January 1, 2021) and after the second payment (on June 30, 2021)? Record Buster Inc.'s journal entries necessary on January 1, 2021, June 30, 2021, and December 31 a. b. 2021. What would Buster Inc. record as interest revenue for 2021

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