AO E I A. ==== AaBb AaBbceDd AaBbced Aabbccc A Heading 1 1 Normal 1 No Space Heading 2 Paragraph 5 Sayles QUESTION 2 - NON-CURRENT ASSETS (15 Marks) Massive Mines Ltd acquired a new sand processing plant on 1st July 2017 for cash at a cost of $125,000 (plus GST). The firm paid in cash additional transportation and insurance costs of $50,000 (plus GST) and an extra $40,000 (plus GST) in cash for a team of experts to construct and test the plant prior to use. The plant is expected to have a useful life of 200,000 cubic meters of sand and have a scrap (residual) value of $50,000. In the first year the plant produced 60,000 cubic meters of sand and in the second year 40,000 cubic meters. Massive Mines sells the plant for cash on the 1 July 2019 for $151,250 (including GST). Required: Record the general journal entries in the template provided on the next page for the purchase, depreciation for years 1 & 2, and the sale of the sand processing plant in the accounts of Massive Mines Ltd (no narrations/descriptions required). Date Accounts Debit Credit 20C + FB DOR co 12 511