Purchase date: Dec 31, 20 Purchase price: 4000000 Additional expenditures: 5000000 Useful life (years): 18 Total est. output: 2500000 Decommissioning cost: 2750000 Discount rate: 5% 2021 output: 115000 a)  Prepare all journal entries for the years ended December 31, 2020 and 2021. b) The mining operations ceased on December 31, 2034. A total of 2,000,000 ounces were mined at the end of December 31, 2033. A total of 225,000 ounces were mined during the year ended December 31, 2034. Write all journal entries at December 31, 2034.

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