Metiock Corporation acquires a coal mine at a cost of $457,600. Intangible development costs total $110,000. After extraction has occurred, Metlock must restore the property (estimated fair value of the obligation is $88,000 ), after which it can be sold for 5176,000. Metiock estimates that 4,400 tons of coal can be extracted. If 770 tons are extracted the firat year, prepare the journal entry to record depietion. (If no entry b required, aelect "No entry" for the account tities and enter O for the amounts. Credit account titles are outomatically indented when amount is entered. Do not indent manually. Lat debit entry before credit enbry.l