Western Mining Inc. acquires a zinc mine in January at a cost of 51.460.000 with an estimated 432.000 tons of zinc Western Mining incalso incurs costs of 16.000 develop the area around the site necessary to access the mine. The land is estimated to have a value of $90,000 after the zinc amined. At the end of the year. 54.800 tons of zinc were mined and 58,320 tons were sold by December 31 . Record the entry for acquisition of the zinc mine. Credit Account Name Jan 1 Inventory --Zinc Cash 162,000 To record acaulation of mine b. Record the entries for depletion and for the cost of the sale of zinc during the year, Debit 162,000 0 Account Name Credit Debit 226.800 226.800 Dec 31 Sales Zinc Mine Property To record depletion Dec 31 Sales inventory in To record costosas 204120 0 201120