Question: Answer the Question Below with your own words - Do it here please BE13.14 (L02) Calaf's Drillers erects and places into service an off-shore oil

Answer the Question Below with your own words - Do it here please

Answer the Question Below with your own words - Do it here

BE13.14 (L02) Calaf's Drillers erects and places into service an off-shore oil platform on January 1, 2019, at a cost of 10,000,000 Calaf estimates it will cost 1,000,000 to dismantle and remove the platform at the end of its useful life in 10 years, which it is legally obligated to do. (The fair value at January 1, 2019, of the dismantle and removal costs is 450,000.) Prepare the entry to record the envi- ronmental liability

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