Lessee: Operating Lease

A lessee has an operating lease. It is a $5-$year lease beginning $1/1/24,$ with the first payment on $1/1/24$ and the remaining payments to be made on $12/31/24$ and each remaining $12/31$ until the lease period ends.

The lease payable and ROU asset accounts were created on the company$$s books on $1/1/24$ for $250,192.$ The company also prepared the journal entry for the first payment on $1/1/24.$

The company prepared an amortization schedule and below is the information that corresponds to the $12/31/24$ payment date.

Date Payment Interest Decrease in Balance Balance

$12/31/202460,00019,01940,981148,211$

Prepare the entry $($or entries if you prefer$)$ to recognize the accrued interest and amortization for this company on $12/31/24.$ Remember that it is an operating lease.