MC Qu. 131 A company purchased a tract... A company purchased a tract of land for its natural resources at a cost of $1,500,000 It expects to mine 2,000,000 tons of ore from this land. be $250,000 if 150,000 tons of ore are mined during the first year, the jounal entry to record the depleson is The salvage value of the land is expected to Mutiple Choice Debt Depletion Expense $93,750, credt Natural Resources $93.750 Debt Cash S12,600, cedt Natural Resources S12.500 Dabt Depleton Expense $93,750 credt Accumulated Depletion $83750 Debt Cash $93,750 credit Accumulated Deplenion $93.750 Debit Depleton Expense S112.500.credt Accumulated Depletion S12.500