Maggie Company expects to extract 20 million tons of coal from a mine that cost $12 million. If no salvage value is expected and 2 million tons are mined in the first year, the entry to record depletion will include a: Select one: a. credit to Depletion Expense of $1,200,000. b. credit to Accumulated Depletion of $2,000,000 c. debit to Inventory of $1,200,000. d. debit to Accumulated Depletion of $2,000,000. South Company borrows $88,500 on September, 2019, from State Bank by signing an $88,500, 12%, one-year note. What is the accrued interest at December 31, 2019? Select one: a. $4,425. b. $10,620 c. $3,540. d. $2,655. Orr Corporation sold equipment for $30,000. The equipment had an original cost of $90,000 and accumulated depreciation of $45,000. As a result of the sale, Select one: a. net income will decrease $15,000. b. net income will increase $30,000. c. net income will increase $15,000. d. net income will decrease $30,000