Question: please show ALL WORK Question 1 ( 15 points) Smith Sand and Gravel (SSG) is a privately-owned construction materials company that supplies the construction industry

please show ALL WORK
please show ALL WORK Question 1 ( 15 points) Smith Sand and

Question 1 ( 15 points) Smith Sand and Gravel (SSG) is a privately-owned construction materials company that supplies the construction industry in the GTA. SSG received preliminary permission to operate an open pit gravel site on the escarpment last year and has cleared the land to expose the limestone deposit. As of June 1, 2020, the final permits were issued by the local municipality, The permits include a legal requirement to remediate the site with high quality fill and topsoil when the site is exhausted in 19 years. SSG estimates that the cost of remediation in 19 years will be $14,000,000. SSG has a December 31 year end. Their relevant cost of funds is 2% and the firm uses straight line depreciation. a. Provide the journal entries related to the permits issued by the municipality throughout fiscal 2020 . b. In its first month of operations in June 2020,SSG 's new site sold 12,000 tonnes of crushed gravel at $20 and 1,400 tonnes of clear gravel at $80. HST at 13% was charged on every sale. Provide the journal entry to record the June sales. Note that all sales were on eredit with established customers. Ignore any cost of sales

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