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Requirement 1. Make journal entries to record (a) purchase of the mineral rights, (b) payment of fees and other costs, (c) depletion for first-year production,

Requirement 1. Make journal entries to record (a) purchase of the mineral rights, (b) payment of fees and other costs, (c) depletion for first-year production, and (d) cost of the ore sold. Round depletion per unit to the closest cent

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