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On January 1, 2021, Wild Water Slides (WWS) a public company bought government land for an outdoor water adventure park, recording a cost of $350,000.
On January 1, 2021, Wild Water Slides (WWS) a public company bought government land for an outdoor water adventure park, recording a cost of $350,000. As a legal condition for the use of the land, the company must return it to its previous condition when they close the park. WWS estimates that at the end of ten years, when they intend to close the park, it will cost $50,000 to return the park to its previous condition. The company uses an interest rate of 6% to estimate obligations What amount will be recorded to recognize the provision on January 1, 2021? $195 438 $27.919 $400,000 Disclosure only, no provision
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