Prepare the journal entries to record the depot and the asset retirement obligation for the depot on January 1, 2020. Based on an effective-interest rate of 7%, the present value of the asset retirement obligation on January 1, 2020, is $34,786. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date January 1, 2020 January 1, 2020 Account Titles and Explanation (To record the depot) (To record the asset retirement obligation) Debit Credit