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Depletion Entries Alaska Mining Co, acquired mineral rights for $21,776,000. The mineral deposit is estimated at 136,100,000 tons. During the current year, 20,900,000 turns were mined and said a. Determine the amount of depletion expense for the current year. Hound the depletion rate to two decimal places, b. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, Beave it blank. 88