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Exxon Mobil holds huge reserves of oil. Assume that at the end of 2017, Exxon Mobil's cost of oil reserves totaled $126,000,000, representing 140,000,000 barrels
Exxon Mobil holds huge reserves of oil. Assume that at the end of 2017, Exxon Mobil's cost of oil reserves totaled $126,000,000, representing 140,000,000 barrels of oil. Suppose Exxon Mobil removed 15,000,000 barrels of oil during 2018. Journalize the depletion expense for 2018.
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