Oriole Ltd$.,$ a public company following IFRS, recorded a right$-$of$-$use asset and lease liability at $$193,050$ on May $1,2023.$ The interest

rate is $12\%.$ Oriole made the first lease payment of $$32,349$ on May $1,2023.$ The lease requires a total of $9$ annual payments. The

equipment has a useful life of $9$ years with no residual value.

Prepare Oriole's December $31,2023$ adjusting entries. $($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 $0$ 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$)$