The Town of Conway Opened a Solid Waste Landfill in 1995

Short Answer

The Town of Conway opened a solid waste landfill in 1995 that is filled to capacity in the current year.The city initially anticipated closure costs of $2 million.These costs were not expected to be incurred until the landfill was closed.What is the final journal entry to record these costs assuming the estimated $2 million closure costs were properly recorded and the landfill is accounted for in an enterprise fund?