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. Assume that at December $31,2023,$ Oriole made an adjusting entry to

accrue interest expense of $$12,856$ on the lease.

Prepare Oriole's May $1,2024$ journal entry to record the second lease payment of $$32,349.$ Assume that no reversing entries are

made. $($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

May $1,2024$

Interest Expense

Depreciation Expense

Debit

Credit