Sunland Ltd$..$ a public compary following IFRS, recorded a right$-$of$-$use asset and lease liability at $$180,900$ or May $1,2023.$ The interest rate is $12\%$ Sunland made the first lease parment of $$30,313$ an May $1,2023.$ The lease requires a tatal of $9$ annual paymerts. The equipment has a useful life of $9$ years with no residual value.

Predare Sunlard's December $31,2023$ adjusting entries, $($List all debit entries before credit entrles Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, seiect No Entry for the account titles ond enter O for the amounts. Round answers to $0$ decimal places, e $85,275.)$

$$ Account Titles and Explanation

Debit

Credit

$$

$$

$$

$$

$$

$($To record interest$)$

Dec. $31$

$$

$$

$$

$$

$($To record depreciation expernse$)$