Tacky Inc. operates a mineral deposit with an estimated 1,500,000 tons of available ore. The mineral deposit was purchased for $1,500,000 and no salvage value is expected. A total of 225,000 were mined by only 100,000 tons were sold during the year. How would the company record this transaction?

• Debit Depletion Expense for $125,000, debit Ore Inventory for $100,000 and credit Accumulated Depletion for $225,000

• Debit Depletion Expense for $100,000 and credit Accumulated Depletion for $100,000

• Debit Depletion Expense for $100,000, debit Ore Inventory for $125,000 and credit Accumulated Depletion for $225,000

• Debit Depletion Expense for $225,000 and credit Accumulated Depletion for $225,000