16. EX.09-19.BLANKSHEET.ALGO (Algorithmic) Depletion entries Instructions Alaska Mining Co. acquired mineral nights for 30, a mining Co. acquired mineral rights for $38,150,000. The mineral deposit is estimated at 21,800,000 tons. During Required: a. Determine the amount of depletion expense for the current year. D. Joumalize the adjusting entry on December 31 to recognize the depletion expense. Refer to the Chart of Account titles Chart of Accounts CHART OF ACCOUNTS Alaska Mining Co. General Ledger ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable REVENUE 410 Sales 610 Interest Revenue 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment 622 Gain on Sale of Mineral Rights 116 Merchandise Inventorv Depleton entries Instructions Chart of Accounts voE Instructions Alaska Mining Co. acquired mineral rights for $38,150,000. The mineral deposit is estimated at 21,800,000 tons. During the current year, 2,090,000 tons were mined and sold Required: a. Determine the amount of depletion expense for the current year b. Journalize the adjusting entry on December 31 to recognize the depletion expense. Refer to the Chart of Accounts for exact wording of account titles TOSHIBA INS F10 F11 DEL BACK