Indigo Corporation acquires a coal mine at a cost of $444,000. Intangible development costs total $111,000. After extraction has occurred, Indigo must restore the property (estimated fair value of the obligation is $88,800), after which it can be sold for $177,600. Indigo estimates that4,440tons of coal can be extracted.

If777tons are extracted the first year, prepare the journal entry to record depletion