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Current Attempt in Progress In 2 0 1 8 , Coronado Company purchased a tract of land as a possible future plant site. In January
Current Attempt in Progress
In Coronado Company purchased a tract of land as a possible future plant site. In January valuable sulfur deposits were
discovered on adjoining property and Coronado Company immediately began explorations on its property. In December after
incurring $ in exploration costs, which were accumulated in an expense account, Coronado discovered sulfur deposits
appraised at $ more than the value of the land. To record the discovery of the deposits, Coronado should:
A debit $ to an asset account.
B debit $ to an asset account.
c make no entry.
D debit $ to an asset account.
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