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The TSU Oil Company has property that will be abandoned in 20 years. On April 1, 2020, It is estimated that it cost $20 million

The TSU Oil Company has property that will be abandoned in 20 years. On April 1, 2020, It is estimated that it cost $20 million dollars to restore the propertyThe borrowing rate is % to fund the obligation . The factor at % and 20 years is 31180. What the Journal entry on April 1, 2020, to record the retirement Obligation in the current period Under both GAAP and IFRS?

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