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Prepare the journalentry to record depletion for the first year. (Credit account titles are outomatically indented when amount is Cheyenne Corp. purchased for $10,154,700 a
Prepare the journalentry to record depletion for the first year. (Credit account titles are outomatically indented when amount is Cheyenne Corp. purchased for $10,154,700 a mine that is estimated to have 37,610,000 tons of ore and no salvage value. In the first year, 6,710,000 tons of ore are extracted. (a1) Calculate depletion cost per unit. (Round answer to 2 decimal places, es: 0.50) perton
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