Carla Vista Ltd., a public company following IFRS 16, recorded a right-of-use asset and lease liability at $137,550 on May 1, 2020. The interest rate is 11%. Carla Vista made the first lease payment of $26,297 on May 1, 2020. The lease requires a total of 7 annual payments. The equipment has a useful life of 7 years with no residual value. Prepare Carla Vista's December 31, 2020 adjusting 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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record interest.) Dec. 31 (To record depreciation expense.)