EXERCISE $10-3$

On March $8,$ Tilly's Wholesale decides to sell for $$2,000$ cash some fixtures for which it paid $$4,000$ and on which it has taken total depreciation of $$2,500$ to date of sale. Record this sale. $($Omit explanation.$)$

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EXERCISE $10-4$

Mine$-$It Co$.$ paid $$2,400,000$ for some mineral rights in Idaho. The deposit is estimated to contain $800,000$ tons of ore of uniform grade. Record the depletion of this deposit on December $31,$ the end of the first year, assuming that $80,000$ tons are mined during the year. $($Omit explanation.$)$

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