In 2022 , Horton Company purchased a tract of land that contained valuable sulfur deposits for 2,250,000. Horton Company incurred 400,000 in exploration costs and geological surveys indicate that there are 550,000 tons of sulfur that could be extracted will record these transactions by debiting 2,250,000 to an asset account and debiting 400,000 to an expense account. debiting 2,650,000 to an expense account. debiting 2,250,000 to an expense account and debiting 400,000 to an asset account. debiting 2,650,000 to an asset account. eTextbook and Media