Musie 101 Connect Help Save & Exit Submit mework Check my work On July 23 of the current year, Dakota Mining Co. pays $6,730,800 for land estimated to contain 8,520.000 tons of recoverable ore. It installs machinery costing $766,800 that has a 10-year life and no savage value and is capable of mining the ore deposit in eight years. The machinery is paid for on July 25, seven days before mining operations begin. The company removes and sells 436,750 tons of ore during its first five months of operations ending on December 31. Depreciation of the machinery is in proportion to the mine's depletion as the machinery will be abandoned after the ore is mined Required: Prepare entries to record the following. (Do not round your intermediate calculations. Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar) (a) To record the purchase of the land (b) To record the cost and installation of machinery. (e) To record the ferst five months depletion assuming the land has a net salvage value of zero after the ore is mined. (d) To record the first five months depreciation on the machinery Complete this question by entering your answers in the tabs below. Required A Required B Required Ct Required C2 Required Di Required D2 To record depietion of the Mineral deposit at December 31. C Prev 16 of 16 Next