You dont need the tables for this one just the calculator with the present value functions.

Manufacturing Incorporated (MI) purchased land on 1 January 20x2, which it started to operate as a gravel pit. The gravel pit will be operating for the next 20 years. At the end of the 20 years MI will be required to incur an estimated cost of $5 million to restore the land. This is required by govermment legislation. The interest rate that reflects the risks to MI is 8%. (PV of $1. PVA of $1. and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Provide the journal entry for the restoration costs on 1 January 20x2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your time value answers to 5 decimal places. Enter your answers in whole dollars, not in millions.) ww Journal entry worksheet Record the provision for land. Ne Eter ds bere ores Date General Journal Debit Credit 20x2 www. wwwy 2. Provide all required adjusting journal entries on 31 December 20X2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your time value answers to 5 decimal places. Enter your answers in whole dollars, not in millions.) Journal entry worksheet Record the depreciation expenses Nte Enter debits bere dits Dete General Journal Debit Credt 20x2