Perez Company acquires an ore mine at a cost of $3,360,000. It incurs additional costs of $940.800 to access the mine, which is estimated to hold 2.400.000 tons of ore. 250.000 tons of ore are mined and sold the first year. The estimated value of the land atter the ore is removed is $480,000. Calculate the depletion expense from the information given. 1. \& 2. Prepare the entry to record the cost of the ore mine and year-end adjusting entry. Complete this question by entering your answers in the tabs below. Prepare the entry to record the cost of the ore mine and year-end adjusting entry. Journal entry worksheet Journal entry worksheet Flecord the cost of the ore mine in cash. Note I Mer debits before crodits. Journal entry worksheet Record the year-end adjusting entry for the depletion expense of ore mine. Note: Enter debas toefore ordita