We are presented with the following information about Gretchen's Bake Shop: Gretchen's Bake Shop purchased a muffin patent for $51,000 on January 1 with a useful life of 15 years. Gretchen's Bake Shop invested $2 million in a sprinkle mine estimated to have 1 million tons of sprinkles and no salvage value. In the first year, Gretchen extracts and sells 50,000 tons of sprinkles. Part (5 points) What is the ending balance in the patent account after 1 year of amortization expense has been recorded? Part 1(5. points) Prepare the journal entry to record depletion of the sprinkle mine in the first year. Show your work