On December 31, 20x0, a silver mining company purchased the mineral rights in Northern Ontario for $2,000,000. An additional $6,000,000 was spent developing the mine. The mine is expected to remain open for the next 20 years with a total estimated output of 2,000,000 ounces of silver. At the end of its useful life, the mine will have to be decommissioned at an expected cost of $2.500,000. The relevant discount rate is 5%. The company uses the units of production method of depreciation. The silver output in 20x1 was 56,000 ounces. Required - a) Prepare all journal entries for the years ended Dec 31, 20x0 and 20x1. b) The mining operations ceased on December 31, 20x12. A total of 1,740,000 ounces of silver was mined to the end of December 31, 20x11. A total of 145,000 ounces were mined during the year ended December 31, 20x12. Write all journal entries at December 31, 20x12