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On July 1 , 2 0 2 4 , Tamarisk Exploration invests $ 1 . 2 6 million in a mine that is estimated to

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On July 1,2024, Tamarisk Exploration invests $1.26 million in a mine that is estimated to have 800,000 tonnes of ore. The company
estimates that the property will be sold for $100,000 when production at the mine has ended. During the last six months of 2024,
100,000 tonnes of ore are mined and sold. Tamarisk has a December 31 fiscal year end.
(b)
Record the 2024 depletion. (Credit account titles are automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry
before credit entry. Round depletable amount per tonne to 2 decimal places, e.g.5.27 and final answers to 0 decimal
places, e.g.5,276.)
Date Account Titles
Debit
Credit
Dec. 31 Inventory
Accumulated Depletion - Resource
eTextbook and Media
List of Accounts
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