Cnidwet Mining Co, aogured mineral rights for $146.352,000. The mineral deposit is estimated at 390,400,000 tons. During the current year, 40,868.000 tons wera mined and sold Required: A Determine the depletion rate. B Determine the amount of depletion expense for the current year C. Journalize the adjusting andy on December 31 to recognize the depletion expense. Refer to the Chart of Accounts for exact wording of account Sites Instructions Starting Questions Ca A. Determine the depletion rate. S per ton B. Determine the amount of depletion expense for the current years Journalize the adjusting entry on December 31 to recognize the depletion expense. Refer to the Chart of Accounts for exact wording of accounties PAGE 1 JOURNAL DATE POST. RER DEBIT CREDIT DESCRIPTION Adjusting Entries 2 1