debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

4. Alberta Petroleum holds huge reserves of oil. Assume that at the end of 2024, Alberta Petroleum's cost of oil reserves totaled $196,000,000, representing 140,000,000 barrels of oil. Suppose Alberta Petroleum removed and sold 35,000,000 barrels of oil during 2025. Journalize depletion expense for 2025. (Assume no residual value. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Depletion ExpenseOil Reserves Accumulated DepletionOil Reserves To record depletion. Debit Credit