Franklin county operates a solid waste landfill that is accounted for in an enterprise fund. the county calculated this year’s portion of the total closure and postclosure costs associated with the landfill to be $300,000. the entry(ies) to record this cost should be: a). debit landfill expense $300,000; credit liability for landfill costs $300,000.b). debit landfill expense $300,000; credit liability for landfill costs $300,000 and include an addition of $300,000 on the schedule of changes in long-term obligations. c). show only an addition of $300,000 on the schedule of changes in long-term obligations. d). no entry in any fund; no entry in the schedule of changes in long-term liabilities.

P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.