Wildhorse Mining Company purchased a mine for $70 million, which is estimated to have 250,000 tons of ore and a salvage value of $11 million. (a). (b) Your answer is partially correct. In the second year, 142,000 tons of ore are extracted but only 126,000 tons are sold. Prepare the journal entry to record depletion for thor is ont

Wildhorse Mining Company purchased a mine for $70 million, which is estimated to have 250,000 tons of ore and a salvage value of $11 million Wildhorse Mining Company purchased a mine for $70 million, which is estimated to have 250,000 tons of ore and a salvage value of $11 million