CALCULATOR Brief Exercise 10-11 1.b Monty Mining Co, purchased for $10.630,400 a mine that is estimated to have 41,320,000 tons of ore and no salvage valun. In the first year 6.440,000 tons of ore are extracted, Your answer is correct. Calculate depletion cost per unit. (Round answer to 2 decimal places. 0.50) Depletion cost per unit 0.22 per ton SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT Your answer is incorrect. Try again Prepare the journal entry to record depletion for the first year (Credit account titles are automatically indented when amount is entered. Do not indent manually. If nowy tities and enter for the amounts.) Account Titles and Explanation Debit Credit x Your answer is incorrect. Try again. Prepare the journal entry to record depletion for the first year. (Credit account titles are automatically indented when a titles and enter o for the amounts.) Account Titles and Explanation Debit Credit x Your answer is incorrect. Try again. Show how this mine is reported on the balance sheet at the end of the first year. Monty Mining Co. Balance Sheet (Partial)