Pina's Drillers erects and places into service an off$-$shore oil platform on January $1,2021,$ at a cost of $$9,294,000.$ Pina is legally required to dismantle and remove the platform at the end of its useful life in $10$ years. Pina estimates it will cost $$929,400$ to dismantle and remove the platform at the end of its useful life in $10$ years. $($The fair value at January $1,2021,$ of the dismantle and removal costs is $$418,230.)$ Prepare the entry to record the asset retirement obligation. $($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

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