a. Determine the amount of depletion expense for the current year. Round the depletion rate...
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Accounting
a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimal places. Feedback - Check My Work b. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, leave it blank. Feedback Check My Work Similar to the journal entry to record depreciation, the journal entry to record depletion affects a contra asset account
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