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 $111,000 298,800 149,400 Est. Residual $ 0 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. View transaction list Journal entry worksheet 3 3 > N Record the amortization on the mineral rights. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2020 Record entry Clear entry View general journal 2. Assume the mine was closed on October 31, 2023, and the assets were scrapped. Record the disposal of the assets. View transaction list Journal entry worksheet 1 2 3 > Record the disposal of the mineral rights. Note: Enter debits before credits. General Journal Debit Credit Date Oct 31, 2023 Record entry Clear entry View general journal