Yosemite Mines paid \(\$ 298,500\) for the right to extract ore from a 200,000 -ton mineral deposit. In addition to the purchase price, Yosemite also paid a \(\$ 500\) filing fee and a \(\$ 1,000\) license fee to the state of California. Because Yosemite purchased the rights to the minerals only, the company expected the asset to have zero residual value when fully depleted. During the first year of production, Yosemite removed 35,000 tons of ore. Make general journal entries to record

(a) purchase of the mineral rights (debit Mineral Asset),

(b) payment of fees, and

(c) depletion for firstyear production.