Goldstein Mines paid $424,000 for the right to extract ore from a 200,000-ton mineral deposit. In addi¬tion to the purchase price, Goldstein Mines also paid a $100 filing fee, a $1,900 license fee to the state of Colorado, and $50,000 for a geologic survey of the property. Because the company purchased the rights to the minerals only, it expects the asset to have zero residual value when fully depleted. During the first year of production, Goldstein Mines removed 30,000 tons of ore, of which it sold 25,000 tons. Make journal entries to record
(a) Purchase of the mineral rights,
(b) Payment of fees and other costs,
(c) Depletion for first-year production, and
(d) Sales of ore. Round depletion per unit to the closest cent?