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Coneco O Inc. has an account titled Oil and Gas Properties Conseco paid 56.700,000 for all reserves holding an estimated 600,000 barrels of oil Assume the company paid $500,000 for additional geological tests of the property and $430,000 to prepare for drilling During the first year, Conseco removed and sold 60,000 barrels of oil Record of Conseco's transactions, including depletion for the first year (Record debits first, then credits Select the explanation on the last line of the Journal y table Conseco paid $6.700.000 for oil reserves holding an estimated 600 000 barrels of all Record the payment for the oil reserves. Do not record payment for any additional costs associated with the oil reserves geological testing and/or drilling). We will do this is the following entry Accounts and Explanation Debit Credit Am the company al 500 000 for additional logical of the property and 5430 000 to prepare for drilling Record the payment for additional geological tests of the property and for preparing the property for drilling Record a single compound jumal entry) Accounts and Explanation Debit Up next for you in Accounting Amber and Zack Wilson are Find me a tutor O LG 112 $10 16 FS Conseco 01, Inc. has an account titled Oil and Gas Properties Conseco paid $6.700,000 for oil reserves holding an estimated 600,000 barrels of oil Assume the company paid $580.000 for additional geological tests of the property and 5430 000 to prepare for drilling. During the first year, Conseco removed and sold 60,000 banks of oil. Record all of Canseco's transactions, including depletion for the first year (Record debits first then credits Select the explanation on the last line of the Journal entry table) Pesume the company paid $530,000 for additional geological tests of the property and 5430,000 to prepare for drilling Record the payment for additional geological tests of the property and for preparing the property for drilling (Record a single compound journal entry) Date Accounts and Explanation Debit During the one removed and sold 60.000 barrels of Recedores de Round actions to the recent and your final to the nearest Med Explanation Det Uones for you in Accounting Find me a tutor LG 110 811 912 wa 12 0 S Conseco Olinc has an accounted and Gas Properties Conseco paid 56,700,000 for reserves holding an estimated 600.000 barrels of oil Assume the company paid $500,000 for additional geological tests of the property and 5430,000 to prepare for drilling During the first year, Conseco removed and sold 60,000 barrels of all Record all of Conseca's transactions, including depletion for the first year. (Record debits first, then credits Select the explanation on the last line of the Journal entry table Date Accounts and Explanation Debit Credit During the year. Como removed and sold 60.000 banks of Record the depletion expense to the fast year me oral value Round Interim calculations to the nearest cant and your finalwers to the nearest Date Accounts and Explanation Dubi Up next for you in Accounting Find me a tutor LG $10 BE 0 journal entry table.) Conseco paid 56,700,000 for oil reserves holding an estimated 600,000 barrels of oil. Record the payment for the oil reserves. Do not record payment for any additional costs associated with the oil do this in the following entry Accounts and Explanation Debit Credit Date Accumulated Depletion-Oil and Gas Properties Accumulated Depreciation and Gas Properties Cash Depletion Expense-Oil and Gas Properties Assume th Depreciation Expense-Oil and Gas Properties Oil and Gas Properties Record the $430,000 to prepare for drilling property for drilling (Record a Date Accounts and Explanation Come Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Up next for you in Accounting Crispy Fried Chicken bought come on January 2 2018, for $33,000. The Amber and Zack Wilson are continuing to review business practices. Currently, O LG ecord the payment o this in the following entry. Debit Date Accounts and Explanation $430,000 to prepar Assume th To record payment of costs associated with purchase of oil reserves Record the To record purchase of oil reserves Date To record depletion property for drilling Debit oma Choose from any list or enter any number in the input fields and then continue to the next question ext for you in Accounting spy Fried Chicken bought ipment on January 2. 18, for $33,000. The Amber and Zack Wilson are continuing to review business practices. Currently, tiedoteca OLG Please answer the question in full if you know how to do it! Please allign the answers how the questions are so it's not confusing for me to figure out where it goes! Will give a thumbs up if the answer is correct! If you have trouble reading any of the images please let me know so I can post another picture