On January 1, 2023, Bridgeport

Corporation erected a drilling platform at a cost of $5,951,400. Bridgeport is legally required to dismantle and remove the platform at the end of its 6 year useful life, at an estimated cost of $1,035,500. Bridgeport estimates that 70% of the cost of dismantling and removing the platform is caused by acquiring the asset itself, and that the remaining 30% of the cost is caused by using the platform in production.The present value of the increase in asset retirement obligation related to the production of oil in 2023 and 2024 was $35,238 and $38,056, respectively. The estimated residual value of the drilling platform is zero, and Bridgeport uses straight-line depreciation. Bridgeport prepares financial statements in accordance with IFRS. Prepare any journal entries required for the platform and the asset retirement obligation at December 31, 2024, assuming that Bridgeport prepares financial statements in accordance with ASPE.