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please workout and explain debit to land improvements for 87,000. its not a credit to accounts payable or cash. i have no clue what the
please workout and explain
Coronado Department Store determines it will cost $100,000 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in 2 years. Coronado estimates the fair value of the obligation at December 31, 2025 , is $87,000 Prepare the journal entry to record the asset retirement obligation. (Credit occount titles are automaticolly indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the omounts. List debit entry before credit entryd debit to land improvements for 87,000. its not a credit to accounts payable or cash. i have no clue what the credit is.
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