Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were...

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Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were purchased to begin mining operations at the site. Details of the mining assets follow: Asset Mineral rights Equipment Date of Purchase Mar. 1/20 Mar. 1/201 Truck Mar. 1/20 Cost $102,000 289,800 140,400 Est. Residual Est. Life $0 4 yrs 0 4 yrs 0 4 yrs Copper's year-end is December 31 and it uses the straight-line method for all mining assets including intangibles. Required: 1. Record amortization and depreciation at December 31, 2020, on the mining assets, including the mineral rights. View transaction list Journal entry worksheet 1 2 3 D Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were purchased to begin mining operations at the site. Details of the mining assets follow: Asset Mineral rights Equipment Date of Purchase Mar. 1/20 Mar. 1/201 Truck Mar. 1/20 Cost $102,000 289,800 140,400 Est. Residual Est. Life $0 4 yrs 0 4 yrs 0 4 yrs Copper's year-end is December 31 and it uses the straight-line method for all mining assets including intangibles. Required: 1. Record amortization and depreciation at December 31, 2020, on the mining assets, including the mineral rights. View transaction list Journal entry worksheet 1 2 3 D