Blossom Mining Co. purchased a mine for $6,574,000 that is estimated to have 25,100,000 tonnes of ore and a residual value of $550,000. In the first year, 5,100,000 tonnes of ore are extracted and 3,100,000 tonnes are sold. Record annual depletion for the first year, ended August 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Aug. 31 Depreciation Expense 1,326,000 Accumulated Depreciation - Equipment 1,326,000 (To record annual depletion.)