Maggie Sharrer Company expects to extract 20 million tons of coal from a mine that cost $12 million. If no salvage value is expected, and 2 million tons are mined and sold in the first year, the entry to record depletion will include a:

a. debit to Accumulated Depletion of $2,000,000.

b. credit to Depletion Expense of $1,200,000.

c. debit to Depletion Expense of $1,200,000.

d. credit to Accumulated Depletion of $2,000,000.

Answer rating: 100% (QA)

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