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Sudbury Industries acquired an ore mine at cost of $1,300,000. It was necessary to incur $200,000 to access the mine. The mine is estimated to

Sudbury Industries acquired an ore mine at cost of $1,300,000. It was necessary to incur $200,000 to access the mine. The mine is estimated to hold 500000 tonnes of ore and the estimated value of the land after the ore is removed is $150,000.

Prepare the entry to record the acquisition.

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