Sandhill Mining Co. purchased a mine for $7.450,000 that is estimated to have 27,600.000 tonnes of ore and a residual value of $550,000. In the first year, 7,500,000 tonnes of ore are extracted and 5,500,000 tonnes are sold. Record annual depletion for the first year, ended August 31, 2021. (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 for the amounts.) Date Account Tities and Explanation Debit Credit Aug. 31 (To record annual depletion.)