Balcom corporation acquires a coal mine at a cost of

Reference no: EM13480298

Balcom Corporation acquires a coal mine at a cost of $1,500,000. Intangible development costs total $360,000. After extraction has occurred, Balcom must restore the property , after which it can be sold for $510,000. Balcom estimates that 5,000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion?

Reference no: EM13480298

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