1. On January 1, Tritrua Auto Company built a new manufacturing facility at a total cost of $15,000,000, and paid cash. To dismantle the plant and restore the property at the end of the plant's 25-year ife, the estimated cost (in today's market) is $850,000. Tritrua will depreciate the asset over its useful lIife using the straight-ine mothod. The asset has no residual value. Triruas cost of capital is 6% Requirements a. Prepare the journal entries required to record the acquisition of the plant asset. b. Prepare the journal entry to record the first year's depreciation expense and accretion expense. Prepare the journal entries required to record the disposal of the asset and the setlement of the asset retremn obligation at the end of the seventh year after acquisition. Tritrua sold the asset for $11,000,000 and the costs of dismanting the plant and restaring the property totaled $310,000. c. Requirement a. Prepare the jounal entries required to record the acquisition of the plant asset Begin by joumalizing the cash investment in the plant asset January 1, Current Year Account 1) 2) Now jounalize the asset retirement obligation related to the plant asset purchased on January 1 January 1, Current Year Account 7)