On July 23 of the current year, Dakota Mining Co. pays $7,920,000 for land estimated to contain 9,000,000 tons of recoverable ore. It installs machinery costing $1,080,000 that has a 10-year life and no salvage 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 463,750 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. (c) To record the first 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.

Screen Shot 2019-09-03 at 5.46.36 PM a Screen Shot 2019-09-03 at 5.46.54 PM Search Required A Required B Required clRequired C2 Required D1 Required D2 To record the first five months' depletion assuming the land has a net salvage value of zero after the ore is mined. Required A Required Required CI Required C2 Required: Required D2 Select formula for Units of Production Depletion: To record the first five months' depreciation on the machinery. Salact formula for Units of Production Depreciation: Calculate depletion expense: Depletion per ton Tonnage Depletion expense Calculata Deprecation expense Depreciation person Tonnage Dennivation auparse View transaction list Journal entry worksheet Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of the machinery. Record the year-end adjusting entry for the depletion expense of ore mine. Note: Enter debits before credits. Note: Enter debits before credits General Journal Debit Credit Date Dec. 31 General Journal Debit Credit Date Dec 31 Record entry Clear entry Clear entry Re Sini View general journal View general Journal try