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 Est. Life Asset Mineral rights Equipment Truck Date of Purchase Mar. 1/20 Mar. 1/20 Mar. 1/20 Cost $ 69, eee 256,800 187,400 Est. Residual $ 8 4 yrs 4 yrs 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. 2. Assume the mine was closed on October 31, 2023, and the assets were scrapped Record the disposal of the assets