Rayalaseema Granite Company bought a granite quarry for Rs.6,000,000. The quarry was estimated to contain Rs.1,000,000 tonnes of granite. It incurred an expenditure of Rs.1,000,000 in developing the quarry site. The company extracted and sold 300,000 tonnes of granite in the first year. Required 1. Prepare a journal entry to record the depletion expense for the first year. 2. What is the carrying value of the quarry at the end of the first year