Kingbird Timber Inc., a small private company that follows ASPE, owns 10,000 hectares of timberland purchased in 2010 at a cost of $1,000 per hectare. At the time of purchase, the land without the timber was valued at $600 per hectare. In 2011 , Kingbird built fire lanes and roads, with a physical life of 30 years, at a cost of $84,000 and separately capitalized these costs. Every year, Kingbird sprays to prevent disease at a cost of $3,000 per year and spends $7,000 to maintain the fire lanes and roads. During 2012, Kingbird selectively logged and sold 400,000 cubic metres of the estimated 2.00 million cubic metres of timber. In 2013, Kingbird planted new seedlings to replace the cut trees at a cost of $100,000. Kingbird has not logged since 2012 . Assume that Kingbird logged 800,000 cubic metres of timber in 2023 , of which 60% was sold in 2023 and the remainder sold in 2024. The timber cruiser (the appraiser) had estimated a total resource of 5 million cubic metres. Determine the cost of timber sold that relates to the depletion for 2023 and 2024. Cost of timber sold related to depletion $ Provide the journal entries to account for the cost of timber produced in 2023 and subsequently sold in 2023 and 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Do not round intermediate calculations. Round answers to 0 decimal places, e.g. 5,125.)