Salter mining Company purchased the Northern Tier Mine for $42 million cash. The mine was estimated to contain 9.7 million tons of ore and to have a residual value of $1.1 million. During the first year of mining operations at the Northern Tier Mine, 60000 tons of ore were mined of which 14000 tons were sold

a) preys journal to record depletion during the year

B) Show how the Northern Tier Mine and its accumulated depletion would appear in Salter Mining Company balance sheet after the first j of operations