Question $6$ of $8$

On July $1,2024,$ Marin Exploration invests $$1\mathrm{.}28$ million in a mine that is estimated to have $800,000$ tonnes of ore. The company estimates that the property will be sold for $$120,000$ when production at the mine has ended. During the last six months of $2024,120,000$ tonnes of ore are mined and sold. Marin has a December $31$ fiscal year end.

$($b$)$

Record the $2024$ depletion. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry. Round depletable amount per tonne to $2$ decimal places, e$.$g$.5\mathrm{.}27$ and final answers to $0$ decimal places, e$.$g$.5,276.)$

Date Account Titles

Debit

Credit

Dec. $31$