Mineral Mines paid $425,000 for the right to extract ore from a 250,000-ton mineral deposit. In addition to the purchase price, Mineral Mines paid a $110 filing fee to the country recorder, a $2,000 license fee to the state of Colorado, and $55,390 for a geologic survey. Because the company purchased the rights to the minerals only, it expects this mineral rights asset to have a residual value of zero when it is fully depleted. During the first year of production, Mineral Mines removed 35,000 tons of ore, of which it sold 29,000 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,

(d) Cost of the ore sold.

Round depletion per unit to the closest cent.