Question 28 (1 point) d Abbott Industries operates a mineral deposit with an estimated 500,000 tons of available ore. The mineral deposit was purchased for $750,000, and no salvage value is expected. A total of 100,000 tons are mined and sold during the year. Assuming the company uses a contra asset account, how would it record this transaction? 1) Debit Mineral Deposit for $750,000 and credit Cash for $750,000. Debit Depletion Expense-Mineral Deposit for $150,000 and credit Accumulated Depletion-Mineral Deposit for $150,000. Debit Depletion Expense-Mineral Deposit for $150,000 and credit Mineral Deposit for $150,000 2) 3) 4 Debit Mineral Expense for $150,000 and credit Mineral Deposit for 5 Debit Amortization Expense-Mineral Deposit for $150,000 and credit $150,000. Mineral Deposit for $150,000 Save