An oil well cost $2,090,000 and is calculated to hold 320,000 barrels of oil There is no residual value. Which journal entry is needed to record the expense for the extraction and sale of 54,000 barrels of oil during the year? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar) ADepletion Expense-Oil 352,620 o B Deplotion Expense-O 352,620 C.Cost of Goods Sold-Oil 352,620 Accumulated Depletion-Oil 352,620 Oil Revenue 352,620 Accumulated Depletion-Ol 352,620 DOI Reserve Inventory 352,620 Accumulated Depletion-Ol 352,620