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Solare Company acquired mineral rights for $412,500,000. The diamond deposit is estimated at 27,500,000 tons. During the current year, 2,420,000 tons were mined and sold.
Solare Company acquired mineral rights for $412,500,000. The diamond deposit is estimated at 27,500,000 tons. During the current year, 2,420,000 tons were mined and sold. a. Determine the depletion rate. $fill in the blank 0f369efd9fbefc9_1 per ton b. Determine the amount of depletion expense for the current year. $fill in the blank 0f369efd9fbefc9_2 c. Journalize the adjusting entry to recognize the depletion expense. Dec. 31 fill in the blank bdd7150d5fc5057_2
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