Montana Mining Co. pays $3,721,000 for an ore deposit containing 1,525,000 tons. The company installs machinery in the mine costing $213,500, which will be abandoned when the ore is completely mined. Montana mines and sells 166,200 tons of ore during the year. Prepare the year-end entries to record both the ore deposit depletion and the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mine's depletion. (Round your unit depreciation and depletion rates to 2 decimal places.) Prepare the year-end entries to record both the ore deposit depletion and the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mine's depletion. (Round your unit depreciation and depletion rates to 2 decimal places.) View transaction list Journal entry worksheet Record the year-end adjusting entry for the depletion expense of ore mine. Nota: Enter debits before credits General Journal Debit Credit Date. Dec 31 View general journal Record entry Clear entry depreciation should be in proportion to the mine's depletion. (Round your unit depreciation and depletion rates View transaction list Journal entry worksheet