Metlock Corporation acquires a coal mine at a cost of $440,000. 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 $176,000. Metlock estimates that 4,400 tons of coal can be extracted. If 770 tons are extracted the first year, prepare the journal entry to record depletion. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit