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:

$\backslash$table$[[,,,$Est.,$],[$Asset$,$Date of Purchase,Cost,Residual,Est. Life$],[$Mineral rights,Mar. $\frac{1}{23},$$$105,000,$$$0,4$ yrs$],[$Equipment$,$Mar. $\frac{1}{23},29,800,0,4$ yrs$],[$Truck$,$Mar. $\frac{1}{23},143,400,0,4$ 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 $31,2023,$ on the mining

assets, including the mineral rights.

$$ Required $2$:

Assume the mine was closed on October $31,2026,$ and the assets were scrapped. Record the disposal of the assets.