Using the full cost accounting, TJX Co. abandoned a proved property during the year. Costs relating to the property are as follows. Proved property $ 20,000 Wells and equipment 500,000 Exploratory dry holes 340,000

A. TJX Co. should recognize a loss of $20,000.

B. TJX Co. has to debit Abandoned Costs account $860,000.

C. TJX Co. will debit Exploratory Dry Holes account $340,000

. D. None of the above is correct.