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Gravelstone Resources explores, develops, and produces aluminum. The company has a December 31 year-end and the company follows IFRS. During 2020, the company engaged
Gravelstone Resources explores, develops, and produces aluminum. The company has a December 31 year-end and the company follows IFRS. During 2020, the company engaged in the following activities. (Click the icon to view the activities.) Required Record the journal entries relating to the transactions assuming that Gravelstone Resources applies ASPE and chooses to use the full cost method. Prepare journal entries for the production revenue received by Gravelstone during 2020. (Record debits first, then credits. Explanations are not required. Round your answers to the nearest whole dollar.) Date Accounts Prepare the journal entry for the operation cost. Date Journalize the unamortized cost. Date Accounts Debit Credit Debit Credit Accounts Debit Credit
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