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Prepare the journal entries to record the depot and asset retirement obligation for the depot on January 1, 2025. Based on an effective-interest rate of 6%, the present value of the asset retirement obligation on January 1, 2025, is $40,070. Use the Plant Assets account for the tanker depot. (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. List all debit entries before credit entries: Prepare the journal entries to record the depot and asset retirement obligation for the depot on January 1, 2025. Based on an effective-interest rate of 6%, the present value of the asset retirement obligation on January 1,2025, is $40,070. Use the Plant Assets account for the tanker depot. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit occount tities are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries