a S. Spradlin Inc Purchased a diamond mine in North Carolina for $12,000,000. It is estimated that the mine contains 10,000 tons of diamonds. The land has a residual value of $2,000,000. Record the depletion journal entry to mine 800 tons of diamonds for the first year of production. Date Description Debit Credit PR T. What is the Carrying Value of the mine after the first year of production? a John Wallace purchased a delivery truck costing $40,000 for his dirt moving business on January 3, 2020. He expects the truck to last 10 years and have a residual value of $10,000. U. Prepare the 1st year depreciation entry for the truck. Description Debit Credit Dale PR V. What is the carrying value of the truck after year 3? W. John Wallace changes the oil in the delivery truck on January 2, paying $200 for the change and new filters. Record the expenditure. Date Description PR Debit Credit X. John Wallace sells his delivery truck after January of year 4 for $28,000. Record the sale of the delivery truck on January 10, 2024. Date Description PR Debit Credit Y. John Wallace purchased a Van on August 1, 2020 for 28,000. He expects the useful life to be 5 years and the van to have a residual value of 4,000. Prepare the year-end adjusting entry for depreciation. Description PR Debit Credit Date