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 after 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 Answer is not complete Complete this question by entering your answers in the tabs below. Depletion Expense General Journal Prepare the entry to record the cost of the ore mine and year and adjusting entry No Transaction General Journal Debit Credit Depletion Expense