Question: please answer both parts. What is the effect on the accounting equation when a company receives payment on a note receivable, including interest? Cash Notes

What is the effect on the accounting equation when a company receives payment on a note receivable, including interest? Cash Notes Receivable Revenue Solare Company acquired mineral rights for 5770,100,000. The diamond deposit is estimated at 45,300,000 tons. During the current year, 4,530,000 tons were mined and sold a. Determine the depletion rate. per ton b. Determine the amount of depletion expense for the current year. c. Journalize the adjusting entry to recognize the depletion expense. If an amount box does not require an entry, leave it blank. Dec. 31
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