5 Montana Mining Company pays $3,167.620 for an ore deposit containing 1,598,000 tons. The company installs machinery in the mine costing $154,000. Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 176,600 tons of ore during the year. 6.7 points Prepare the December 31 year-end entries to record both the ore deposit depletion and the mining machinery depreciation Mining machinery depreciation should be in proportion to the mine's depletion. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) eBook View transaction list Hint Journal entry worksheet Print Record the year-end adjusting entry for the depletion expense of ore mine. References Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general Journal 5 Montana Mining Company pays $3,167,620 for an ore deposit containing 1,598,000 tons. The company Installs machinery in the mine costing $154,000. Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 176,600 tons of ore during the year. 6.7 points Prepare the December 31 year-end entries to record both the ore deposit depletion and the mining machinery depreciation Mining machinery depreciation should be in proportion to the mine's depletion. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) Book View transaction list Hint Journal entry worksheet Cint Record the year-end adjusting entry for the depreciation expense of the mining machinery References Nule: Criter debits before credits General Journal Debit Credit Date December 31 Record entry Clear entry View general Journal