On November 1, 2019, RasGas Company pays $7,582,080 for land estimated to contain 8,616,000 tons of minerals. The land will have a useful life of 10 years and has no salvage value. The company extracts 442.250 tons of minerals in 2019. Required: (a) Prepare the joumal entry to record the purchase of the mineral deposit. (b) Use the given chart to calculate depletion expense. (Do not round your intermediate calculations.) (Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) Prepare the joumal entry to record depletion on December 31, 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required Use the given chart to calculate depletion expense. (Do not round your intermediate calculations.) (Round "Depletion per ton" to two decimal places and round all other answers to the nearest whole dollar.) Select formula for Units of Production Depletion: Calculate depletion expense: Depletion perton Tonnage Depletion expense