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Solare Company acquired mineral rights for $405,900,000. The diamond deposit is estimated at 45,100,000 tons. During the current year, 3,260,000 tons were mined and sold.
Solare Company acquired mineral rights for $405,900,000. The diamond deposit is estimated at 45,100,000 tons. During the current year, 3,260,000 tons were mined and sold. Question Content Area a. Determine the depletion rate. fill in the blank 1 of 1$ per ton b. Determine the amount of depletion expense for the current year. fill in the blank 1 of 1$ Question Content Area c. Journalize the adjusting entry to recognize the depletion expense. If an amount box does not require an entry, leave it blank.
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