Natural Resources The Hollister Company acquires a silver mine at the cost of $1,800,000 on January 1 , Along with the purchase price Holister pays additional costs associated with developmer of $50,000. Hollister expects the mine will have a salvage value of $225,000 once all the silver has been mined. Best estimates are that the mine contains 250.000 tons of ore. Required a. Prepare the entry to record the purchase of the silver mine. b. Prepare the December 31 yeareend adjusting entry to record depietion is 60.000 tons of ore are mined and all the ore is sold. c. Prepare the December 31 year-end adjusting entry to record depletion is 60,000 tons of ore are mined but only 15,000 tons of the ore are sold