A company purchased a tract of land for its natural resources at a cost of $1,500,000. It expects to mine 2,000,000 tons of ore from this land. The salvage value of the land is expected to be $250.000. If 150.000 tons of ore are mined during the first vear the journal entry to record the depletion

O Debit Depletion Expense $93 750; credit Natural Resources $93.750

O Debit Depletion Expense $112,500; credit Accumulated Depletion $112.500

O Debit Cash S112.500: credit Natural Resources $112.500.

O Debit Depletion Evense $93. 750: credit Accumulated Deoletion $93.750

O Debit Cash $93.750; credit Accumulated Depletion $93,750.