Kitimat Co. mines and produces aluminum. During 2018, the company explored two new sites and evaluated them for aluminum ore potential. By the year ended December 31, 2018, the sites remained in the evaluation stage. During 2019, evaluation of site Andromeda was completed and the site was deemed to have sufficient quantities of ore; consequently, development of the site began. However, site Bode was determined to have ore concentrations too low to be commercially viable. The following is the cost of exploration and evaluation incurred on the two sites:

Required:
Record the journal entries in 2018 and 2019 relating to the exploration and evaluation costs using the successful efforts method. Assume that Kitimat has a policy of capitalizing the costs of exploration and evaluation.

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2018 2019 Andromeda $2,380,000 $1,470,000 Bode 950,000 1,950,000 Total $3,330,000 $3,420,000