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Marigold Corp. purchased for $ 5,274,000 a mine that is estimated to have 52,740,000 tons of ore and no salvage value. In the first year, 5,790,000 tons of ore are extracted.

Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.)

Depletion cost per unit

$ enter the depletion cost per ton amount in dollars per ton

eTextbook and Media

List of Accounts

Prepare the journal entry to record depletion for the first year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Show how this mine is reported on the balance sheet at the end of the first year.

Marigold Corp. Balance Sheet (Partial)
enter a balance sheet item		$ enter a dollar amount
select between addition and deduction AddLess: enter a balance sheet item		enter a dollar amount		$ enter a total of the two previous amounts

eTextbook and Media

List of Accounts

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