TexAm Petroleum holds huge reserves of oil assets. Assume that at the end of 2015, TexAm Petroleum's cost of oil reserves totaled $72,000,000, representing 8,000,000 barrels of oil. Suppose TexAm Petroleum removed and sold 400,000 barrels of oil during 2016. The entry to record the depletion for 2016 includes: a credit to accumulated depletion 360,000 O b. debit to accumulated depletion 360,000 c. credit to depletion expense 3,600,000 od debit to depletion expense 3,600,000