On Feb1, 2020, Miyasawa Mining company purchased a minefor $80 million that is estimated o have 250000tonnes of ore and a residual value of $3 million. The cost of the restoraation at the end of the useful life is estimated at $8 million. In 2020, 30,000 tonnes of ore were extracted.

a) calculatet the amortiation that should be recorded on December 31, 2020

b) calculate the amount of the restoration liability

cshow the journal entry for December 31, 2020