You decide to get into the mining business after graduation. You purchase a large tract...

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Accounting

You decide to get into the mining business after graduation. You purchase a large tract of land in the foothills of the Sierra Nevada mountains to search for precious minerals. However, as part of the land purchase and in order to begin mining, you agree with the state of California to return the land back to its original appearance once you are done mining. Find and interpret ASC guidance for how to account for this circumstance. (You may need to cite more than one paragraph.)

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