Pepuired: a. Determine the depiesion rate. Aound your answer to two decimal places. b. Dotermine the amount of depletion expense for the current year. c. Joumalice the adjosting entry on Docember 31 to recognize the depletion expense. Aeder to the chart of aocounts for the exact worsing af the account tities. CNOW joumals do not use lines for joumal explanasions. Evary ine on a joumal page is ated tor debit ar credt entrish. CNow joumals will automaticaly indent a crodit enty whee a crodt anount is enterod a. Determine the depletion rate. Found your answer to fwo decimal places per ion b. Determine the amount at depletion experse for the curtent yoar fnstructions Chart of Accounts Firnt ovecilons Journal Joumol jovkis. accoustinc Equanos Batt orichipion Fort ar. awers yakits touth Adjusting Entries