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Montana Mining Company pays $4,883,910 for an ore deposit containing 1.462.000 tons. The company installs machinery in the mine costing $219.700. Foth the ore and

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Montana Mining Company pays $4,883,910 for an ore deposit containing 1.462.000 tons. The company installs machinery in the mine costing $219.700. Foth the ore and machinery will have no salvage value atter the ore is completely mined. Montana mines and selis 131,000 tors of ore during the year. Prepare the December 31 year-end entiles to record both the ore deposit depletion and the mining machinery depreciation. Mining machinesy depteciation stould be in pioportion to the mine's depletion. (Do not round intermediote calculations. Round your final antwers to the nearest whole number.) Journal entry worksheet Hecard the year iend adjusting entry for the depletion expense of are mine, Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of the mining machinery. histe: tinter debits before credits

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