Salter Mining Co. purchased the Northem Tier Mine for $54 million cash. The mine was estimated to contain 5,47 million tons of ore and to have a residual value of $8.5 mition. During the first year of mining operations at the Northern Tier Mine, 90,000 tons of ore were mined, of which 16,000 tons were sold. a. Prepare a journal entry to record depletion during the year. b. Show how the Northern Tier, and its accumulated depletion, would appear in Salter Mining Co. balance sheet after the first year of operations. Complete this question by entering your answers in the tabs below. Show how the Northek i Tier Mine, and its accumulated depletion, would appear in Salter Mining Company's balance sheet after the first year of operations. (Round your intermediate calculations to two decimal places. Amounts to be deductied thouid be indicoted by a minus sign.) Salter Mining Co. purchased the Northern Tier Mine for $54 milion cash. The mine was estimated to contain 5.47 million tocs of ore and to have a residual value of $8.5 million. During the first year of mining operations of the Northern Tier Mine, 90,000 tons of ore were mined, of which 16,000 s.nd were sold. a. Prepare a joumal entry to record depletion during the year. a. Prepare a joumai entry to record depietion curing the year. ogerations. Complete this question by entering your answers in the tabs below. Prepare a joumal entry to record depietion during the year, (Roum your intermediate calculations to twe decmal placek. If no entry is Prepare a joumai entry to record depiotion during the year, (Rouns your intermediate calculakiof roquired for a transactonsevent, select "No louinal enthy required" in the first account feld.) Journal entry worksheet Pecord the depletion on the Northern Fler Mine. Wotei Erier debets beclire oredts