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Montana Mining Company pays $3,692,730 for an ore deposit containing 1,563,000 tons. The company installs machinery in the mine costing $171,600. Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 185,900 tons of ore during the year. 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 mines depletion. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) Journal entry worksheet 1 2 Record the year-end adjusting entry for the depletion expense of ore mine. Note: Enter debits before credits. Date General Journal Debit Credit 40542 December 31 Depletion expense Mineral deposit Accumulated depletion Mineral deposit 405,421 Record entry Clear entry View general journal EER 2 Record the year-end adjusting entry for the depreciation expense of the mining machinery. Note: Enter debits before credits. Date General Journal Debit Credit December 31