Backwoods Mining Co$.$ acquired mineral rights for $$45,034,000.$

The mineral deposit is estimated at $17,800,000$ tons. During the

current year, $2,000,000$ tons were mined and sold.$$Required:a$.$ Determine the amount of depletion expense for the current

year.b$.$ Journalize 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 journals do not use lines for

journal explanations. Every line on a journal page is used for

debit or credit entries. CNOW journals will automatically indent a

credit entry when a credit amount is entered.