Question: help Current Attempt in Progress Sandhilltd, a public compaciy following IfRS, recorded aright-of-use asset and lease liability ak $171,450 on May 1. 2023. The Interest

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Current Attempt in Progress Sandhilltd, a public compaciy following IfRS, recorded aright-of-use asset and lease liability ak \$171,450 on May 1. 2023. The Interest rate is 12%. Sandhill madi the first lease payment of $26,730 on May 1,2028. The loise repuires a total cl 9 anmaal paymertes The equipnent has an useful ilfe of 9 years with no rosidual value. Assume that at December 32, 2023. Sacdial madic an adjusting entry to accrue interest expense of 511.418 on the leise. Prepare Sandhirs May 2.2024 journal entry to record the second lease pryment of $20,730. Acwame thit no revei Momentrias are manustly If no entry la regpleed, feiect "No Entry" for the accourt fibles and enter Ofor the amounth Round answis to oudecimail nlacec es. 5,275

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