2. On January 1, 20X6, Harrison Mining Industries purchased a piece of land for mining. The land cost $500,000, including all costs to ready the land for the operation. Harrison expects 250,000 tons to be removed from the ground. During 20X6, 40,000 tons of ore were mined. Three quarters of the 40,000 tons were sold in 20X7 for $137,000. Make journal entries to record the purchase of the land, depletion and the sale of the ore. (2 marks)