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On July 4,2021 . Waterway Mining Company purchased the mineral rights to a granite deposit...

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Accounting

image On July 4,2021 . Waterway Mining Company purchased the mineral rights to a granite deposit for $1620000. It is estimated that the recoverable granite will be 400000 tons. During 2021,90000 tons of granite was extracted and 60000 tons were sold. The amount of depletion recognized for 2021 would be $120000.$180000.$400000.$364500

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