Instructions Backwoods Mining Co. acquired mineral rights for $53,200,000. The mineral deposit is estimated at 19,000,000 tons. During the current year, 2,500,000 tons were mined and sold Required: a. Determine the amount of depletion expense for the current year b. Journalize the adjusting entry on December 31 to recognize the depletion expense Refer to the chart of accounts for the exact wording of the account titles. CNOW Journals do not use Anes for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered Dirts a. Determine the amount of depletion expense for the current years Joumal D. Journalize the adjusting entry on December 31 to recognize the depletion expense Refer to the chart of accounts for the exact wording of the account NOW journals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entries CNOW journals will automatically indenta cred entry a credit amount is entered GE ACCOUNTING EQUATION JOURNAL CREDIT POST. REF DEUT ASSES LIABILITIES Tour DESCRIPTION DATE Ndjusting