Connect Saved QS 8-10 Natural resources and depletion LO P3 Perez Company acquires an ore mine at a cost of $3,500,000. it incurs additional costs of $980,000 to access the mine, which is estimated to hold 2.500,000 tons of ore. 255,000 t estimated value of the land after the ore is removed is $500,000. Calculate the depletion expense from the given. (Round "Depletion per unit" to 3 decimal places.) tons of ore are mined and sold the first year. The the depletion expense from the information 50 Cost to units of unit Units extracted and sold in expense 1. &2. Prepare the entry to record the cost of the ore mine and year-end adjusting entry 1 Record the cost of the ore mine in cash. 2 Record the year-end adjusting entry for the depletion expense of ore mine. ote:-Journal entry has been entered View general