Exerclse 8-19A (Algo) Computing and recording depletion expense LO 8-9 Colorado Mining paid $631,700 to acquire a mine with 794,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 416,850 tons of coal in Year 1 and 357,300 tons in Year 2. Requlred a. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one. c. Prepare the general journal entries to record the depletion expense for years 1 and 2. Complete this question by entering your answers in the tabs below. with a minus sign.) Exerclse 8-19A (Algo) Computing and recording depletion expense LO 8-9 Colorado Mining paid $631,700 to acquire a mine with 794,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 416,850 tons of coal in Year 1 and 357,300 tons in Year 2. Required a. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one. c. Prepare the general journal entries to record the depletion expense for years 1 and 2. Complete this question by entering your answers in the tabs below. Prepare the general journal entries to record the depletion expense for years 1 and 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round depletion charge per unit to two decimal places. Round your final answers to the nearest whole dollar.) Journal entry worksheet Note: Enter debits before credits. Exerclse 8-19A (Algo) Computlng and recordling depletion expense LO 8-9 Colorado Mining paid $631,700 to acquire a mine with 794,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 416,850 tons of coal in Year 1 and 357,300 tons in Year 2. Required o. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one. c. Prepare the general journal entries to record the depletion expense for years 1 and 2. Complete this question by entering your answers in the tabs below. Prepare the general journal entries to record the depletion expense for years 1 and 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round depletion charge per unit to two decimal places. Round your final answers to the nearest whole dollar.) Journal entry worksheet Note: Enter debits before credits. Exerclse 8-19A (Algo) Computing and recording depletion expense LO 8-9 Colorado Mining paid $631,700 to acquire a mine with 794,000 tons of coal reserves. The horizontal statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 416,850 tons of coal in Year 1 and 357,300 tons in Year 2. Required a. Compute the depletion charge per unit. b. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model like the preceding one. c. Prepare the general journal entries to record the depletion expense for years 1 and 2. Complete this question by entering your answers in the tabs below. Compute the depletion charge per unit. (Round your answer to two decimal places.)