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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

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Sands company purchased mining rights for $500,000.

they expect to harvest 1 million ton...
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