Flint Industries Limited purchased a strip mine for cash on April 1, 2020 at a cost of $5,337,000. Flint expects to operate the mine for 10 years, at which it is legally required to restore the surrounding area to its original state. It is estimated that it will cost $467,000 to do this at the end of the mines useful life. The companys year-end is December 31, and Flint follows ASPE.

Prepare any journal entries required for the mine (straight-line depreciation) and the asset retirement obligation at December 31, 2020. The estimated residual value of the mine is zero. (Round answer to 0 decimal places, e.g. 5,275. 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.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020
	(To record depletion for the year)
	(To record accretion expense for the year)