For the following transaction,provide all of the required journal entries from inception to liquidation.Assume a December 31 year end and that the company does not prepare interim statements.Round all amounts to nearest dollar.
Definitions:
Point Bar
a depositional feature made of alluvium that accumulates on the inside bend of streams and rivers below the slip-off slope.
Cutbank
The steep bank typically found on the outside bend of a river or stream, formed by the erosion process of flowing water.
Sinuosity
A measure of how much a river meanders or curves compared to the straight path down its valley.
Esker
A long, winding ridge of stratified sand and gravel, typically in a serpentine shape, formed by retreating glaciers or ice sheets.
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