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Concord Corporation, a publicly traded mining company, acquires a mine at a cost of $ 5 1 0 , 0 0 0 . Capitalized development
Concord Corporation, a publicly traded mining company, acquires a mine at a cost of $ Capitalized development costs total $ After the mine is depleted, $ will be spent to restore the property, after which it can be sold for $ Concord estimates that tonnes of ore can be mined. Assuming that tonnes are extracted in the first year, prepare the journal entry to record depletion. Credit account titles are automatically indented when the arnount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round depletion per tonne to decimal places, e and final answer to O decimal places, eg Account Titles and Explanation Debit Credit
Concord Corporation, a publicly traded mining company, acquires a mine at a cost of $ Capitalized development costs total $ After the mine is depleted, $ will be spent to restore the property, after which it can be sold for $ Concord estimates that tonnes of ore can be mined. Assuming that tonnes are extracted in the first year, prepare the journal entry to record depletion. Credit account titles are automatically indented when the arnount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round depletion per tonne to decimal places, e and final answer to O decimal places, eg
Account Titles and Explanation
Debit
Credit
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