Current Attempt in Progress

In $2018,$ Coronado Company purchased a tract of land as a possible future plant site. In January $2026,$ valuable sulfur deposits were

discovered on adjoining property and Coronado Company immediately began explorations on its property. In December $2026,$ after

incurring $$476000$ in exploration costs, which were accumulated in an expense account, Coronado discovered sulfur deposits

appraised at $$2780000$ more than the value of the land. To record the discovery of the deposits, Coronado should:

A$.$ debit $$476000$ to an asset account.

B$.$ debit $$3256000$ to an asset account.

c$.$ make no entry.

D$.$ debit $$2780000$ to an asset account.