Sands company purchased mining rights for $500,000.
they expect to harvest 1 million ton...
Business, 25.01.2020 02:31 sierraaasifuent
Sands company purchased mining rights for $500,000.
they expect to harvest 1 million tons of ore over the next five years.
during the current year sands mined 350,000 tons of ore.
the entry to record the depletion would include:
a) a credit to depletion expense for $350,000
b) a debit to depletion expense for $175,000
c) a debit to accumulated depletion for $175,000
d) a credit to accumulated depletion for $350,000
Answers: 1
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