BPP Company maintains underground storage tanks for its operations. A new storage tank was installed and made ready for use at a cost of $$800,000$ on January $1,2020.$ The useful life is estimated at $15$ years, at which time the company is legally required to remove the tank and restore the area at an estimated cost of $$80,000.$ On December $31,2035,$ the tank is safely removed at a cost of $$92,000.$ The appropriate discount rate for the company is $12\%.$ The present value factor of $$1$ for $15$ periods and $12\%$ intelest rate is $0\mathrm{.}18270.$ The journal entry to record the related asset retirement obligation on January $1,2020$ includes