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Prepare the year-end entries to record deposit depletion

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Question - Depletion of natural resources - Monta na Mining Co. pays $4,700.170 for an ore deposit containing 1.559.000 tons. The company installs machinery in the mine costing $198,100. Which will be abandoned when the ore is completely mined. Montana mines and sells 185,800 tons of ore during the year. Prepare the year-end entries to record both the ore deposit depletion and the mining machinery depreciation.

Reference no: EM133064692

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