Manufacturing Incorporated (MI) purchased land on 1 January 20X2, which it started to operate as a gravel pit. The gravel pit will be operating for the next 20 years. At the end of the 20 years MI will be required to incur an estimated cost of $5 million to restore the land. This is required by govemment legislation. The interest rate that reflects the risks to MI is 8%. (eV of $1. PVA of $1., and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Provide the journal entry for the restoration costs on 1 January 20XX2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your time value answers to 5 decimal places. Enter your answers in whole dollars, not in millions.) Journal entry worksheet Record the provision for land Note ter debes bere e Date General Journal Deb Credt 202 y 2. Provide all required adjusting journal entries on 31 December 20X2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your time value answers to 5 decimal places. Enter your answers in whole dollars, not in millions.) Journal entry worksheet Record the depreciation expenses. Notte debis be e Date General Jeumal Debit Credt 20x2