In 2019, Lucky Mining Company paid $1,200,000 for mining rights. It is estimated that a total of 1,000,000 kilograms of ore are available to be extracted. During 2019, 135,000 kilograms of ore were mined. What is the amount of Depletion Expense recorded in the adjusting entry for 2019?

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The Answer of In 2019, Lucky Mining Company paid $1,200,000 for mining rights. It is estimated that a total of 1,000,000 kilograms of ore are available to be extracted. During 2019, 135,000 kilograms of ore were mined. What is the amount of Depletion Expense recorded in the adjusting entry for 2019?

In 2019, Lucky Mining Company Paid $1,200,000 for Mining Rights