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rk BOOK Show Me How CV ... Dupation Entries Backwoods Mining Co acquired mineral rights for $7,104,000. The mineral deposit is estimated at 59,200,000 tons. During the current year, 8,900,000 tons were mined and sold a Dutermine the amount of depletion expense for the current year. Round the depletion rate to two decimal places. 0.12 X sir identity b. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not reore on entry, leave it blank Depletion Expense Accumulated Depletion