Backwoods Mining Co acquired mineral rights for $38,150,000. The mineral deposit is estimated at 21,800,000 tons. During the current year, 2,090,000 tons were mined and sold. Required: a. Determine the amount of depletion expense for the current year b. Joumalize the adjusting entry on December 31 to recognize the depletion expense. Refer to the chart of accounts for the exact wording of the account titles: CNOW joumals do not use lines for journal explanations. Every ine on a joumal poge is used for debut or credit entries. GNOW joumals will automatically indent a credit entry when a credit amount is entered. a. Determine the amount of depletion expense for the current year. b. Joumalce the adjusting ontry on December 3t fo recognize the depletion expense. Refor fo the chart of accounts for the exact wording of the account tities. CNOW foumats do not use fines for joumal expianations. Every line on a joumal poge is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credif amount is enterod