Joumalize (c) the depletion for the first year. (Round depletion per ton to the nearest cent.) Date Debit Credit C Accounts and Explanation Depletion Expense--Minerals Accumulated Depletion--- Minerals To record depletion Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Sunset Mountain Mining paid $762,100 for the right to extract mineral assets from a 550,000-ton deposit. In addition to the purchase price. Sunset also paid 5800 ning fee, a 52.100 license fee to the state of Nevada, and $60,000 for a geological survey of the property. Because Sunset purchased the rights to the minerals only and did not purchase the land, it expects the asset to have zero residual value. During the first year, Sunset removed and sold 30.000 tons of the minerals. Make journal entries to record (a) purchase of the minerals (debit Minerals). (b) payment of fees and other costs, and (c) depletion for the first year. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize (b) the payment of fees and other costs. (Record a single compound journal entry)