In 20x7, a company is planning a major restructuring that will likely take place in 20x8. The total estimated cost of the restructuring is $1,800,000. Details of the restructuring will not be formally announced until after the board of director meeting, which is to be held in January 20x8.

Required Determine whether or not this meets the definition of a restructuring, and if so, prepare the December 31, 20x7 journal entry.