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Record the depletion in the current year in a journal entry

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Reference no: EM132571953

Question - Sands Company purchased mining rights for $500,000. They expect to harvest 1 million tons of ore over the next five years. During the current year, Sands mined 350,000 tons of ore. Record the depletion in the current year in a journal entry.

Reference no: EM132571953

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