Depletion Entries Alaska Mining Co, acquired mineral rights for $18,354,000. The mineral deposit is estimated at 131,100,000 tons. During the current year 19,650,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. b. Journalize the adjusting entry December 31 to recognize the depletion expense