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Marigold Ltd. acquired the rights to use 2,600 hectares of land in northern Alberta to mine for uranium. The cost of the land was $110,000, exploration costs were $200,000, and the development costs incurred were $790,000. All of these costs were capitalized. The company estimated that the mine would produce about 250,000 ounces of uranium. In the first year, 30,300 ounces were extracted from the mine, of which 13,800 were sold. Assume all purchases were cash. Prepare the journal entries on the books of Marigold Ltd. to record the purchase and capitalization of the mine. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit 1 Prepare the journal entry on the books of Marigold Ltd. to record depletion costs for the first year. (Round per unit cost to 2 decimal places e.g. 5.75 and final answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Account Titles and Explanation Debit Credit Prepare the journal entry on the books of Marigold Ltd. to record the cost of uranium sold for the first year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit

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