In 2013, Jarrett Company purchased a tract of land as a possible future plant site January, 2021, valuable sulphur deposits were discovered on adjoining property and Jarrett Company immediately began explorations on its property. In December, 2021. after incurring $480,000 in exploration costs, which were accumulated in an expense account, Jarrett discovered sulphur deposits appraised at $2,700,000 more than the value of the land. To record the discovery of the deposits, Jarrett should a. make no entry. b. debit $480,000 to an asset account. . debit $2,700,000 to an asset account. . debit $3,180,000 to an asset account. Inillion and