Sherry Ltd commenced mining operations in Western Australia on 1 July 2010. During the first year of exploration it incurred the following costs (in millions of dollars) in relation to 3 areas:

Alan 10

Brian 8

Craig 14

Total Costs 32

In 2012 uranium was discovered at site Craig. Explorations continued at site Alan, however exploration at site Brian was not considered to be economically viable and was abandoned. In relation to exploratory expenditure 35% relates to intangibles and the remainder to property, plant and equipment. Up until 30 June 2012, the company incurred development costs of $2 million in relation to infrastructure and property, plant and equipment for site Craig. Costs will be written off on a production basis. A further $1.5 million in exploration and evaluation costs were incurred at site Alan.

On 1 July 2012 production commenced at site Craig. It is estimated that the site contains 80,000 tonnes of uranium. The current sale price is $3,500 per tonne. Production to the 30 June 2013 extracted 6,500 tonnes of uranium incurring a production cost of $3 million. At the end of the financial year 5,000 tonnes of uranium had been sold. Management also decided that exploration at site Alan was no longer viable and abandoned work at this site. Sherry Ltd's financial year ends on 30 June.

Required: Prepare journal entries using the area of interest method for 2011, 2012 and 2013. Calculations should be rounded to the nearest dollar.