The town of Wakefield opened a solid waste landfill in 2007 that was at 20% capacity on December 31,2007 and at 50% capacity on December 31,2008.The city initially anticipated closure costs of $2.3 million but in 2008 estimated the closure costs would be $2.7 million.None of these costs will be incurred until the landfill is scheduled to be closed.
What is the journal entry that should be recorded on December 31,2008 for Government-wide Financial Statements?

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The Answer of The town of Wakefield opened a solid waste landfill in 2007 that was at 20% capacity on December 31,2007 and at 50% capacity on December 31,2008.The city initially anticipated closure costs of $2.3 million but in 2008 estimated the closure costs would be $2.7 million.None of these costs will be incurred until the landfill is scheduled to be closed.
What is the journal entry that should be recorded on December 31,2008 for Government-wide Financial Statements?

The Town of Wakefield Opened a Solid Waste Landfill in 2007