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14. Please calculate the depletion expense and make the journal entry. You purchased land with an oil basin for $1,000,000. Your geologist estimates 100,000 barrels.

14. Please calculate the depletion expense and make the journal entry. You purchased land with an oil basin for $1,000,000. Your geologist estimates 100,000 barrels. You pulled out 45,000 barrels of oil this year

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