aun oil well cost $1,762,500 and is calculated to hold 210,000 barrels of oil. There is no residual value. Which journal entry is needed to record the expense for the extraction of 5,000 barrels of oil during the year? All 35,000 barrels were sold during the year. (Round any intermediate calculations to the nearest cent, and your final answer to the earest dollar) A. Depletion Expense - Oil Reserve Accumulated Depletion - Oil Reserve O B. Depletion Expense - Oil Reserve Oil Revenue OC. Oil Reserve Inventory Accumulated Depletion Oil Reserve 5 OD. Cost of Goods Sold Oil Reserve Accumulated Depletion - Oil Reserve 293,650 293,650 293,650 293,650 293,650 293,650 293,650 293,650 STEER

oil wall cost $1,762.500 and is calculated to hold 210,000 bartels of oil There is no rosidual value. Which joumal entry is needed to record the expense for the extraction of 000 barrels of oil during the year? All 35,000 barrels were sold diring the year (Round any intermediate calculations to the nearest cent, and your finat answer to the