Salter Mining Company purchased the Northern Tler Mine for $21 million cash. The mine was estimated to contain 2.5 million tons of ore and to have a residual value of $1 million. During the first year of mining operations at the Northern Tier Mine, 50,000 tons of ore were mined, of which 40,000 tons were sold. a. Prepare a journal entry to record depletion during the year. b. Show how the Northern Tier Mine, and its accumulated depletion, would appeor in Salter Mining Company's balance sheet atter the first year of operations. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Show how the Northern Tier Mine, and its accumulated depletion, would appear in Saiter Mining Companys balance inher after the first year of operations. (Amounts to be deducted should be incicated by a minss ingh.)