Montana Mining Company pays $$4,903,820$ for an ore deposit containing $1,448,000$ tons. The company installs machinery in the mine costing $$152,300.$ Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells $163,100$ tons of ore during the year.

Prepare the December $31$ 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.

Note: Do not round intermediMontana Mining Company pays $$4,903,820$ for an ore deposit containing $1,448,000$ tons. The company installs machinery in the mine

costing $$152,300.$ Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells

$163,100$ tons of ore during the year.

Prepare the December $31$ 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.

Note: Do not round intermediate calculations. Round your final answers to the nearest whole number.

Answer is not complete.ate calculations. Round your final answers to the nearest whole number.