Business, 29.11.2019 02:31 lberman2005p77lfi

Fortune drilling company acquires a mineral deposit at a cost of $5,900,000. it incurs additional costs of $600,000 to access the deposit, which is estimated to contain 2,000,000 tons and is expected to take 5 years to extract. what journal entry would be needed to record the expense for the first year assuming 418,000 tons were mined?

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Fortune drilling company acquires a mineral deposit at a cost of $5,900,000. it incurs additional co...