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6) On January 1, Tantrum Mining Inc. purchased the right to remove mineral ore from land owned by the government for $880,000. The land is

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6) On January 1, Tantrum Mining Inc. purchased the right to remove mineral ore from land owned by the government for $880,000. The land is estimated to hold 40,000 tons of ore. In the first year, Tantrum extracted and sold 6,000 tons of ore. a Give Tantrum's journal entry to record depletion for the year b. How does depletion expense differ from depreciation expense

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