Waterway Industries acquires a coal mine at a cost of $1560000. Intangible development costs total $352000. After extraction has occurred, Waterway must restore the property (estimated fair value of the obligation is $188000), after which it can be sold for $512000. Waterway estimates that 6000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? (Round intermediate calculations to 2 decimal places, e.g. 20.25 and final answer to nearest dollar amount, e.g. 102456.) O Debit to Inventory for $238203 O Credit to Inventory for $234000 O Credit to Accumulated Depletion for $391800 O Debit to Accumulated Depletion for $238203

Waterway Industries acquires a coal mine at a cost of $1560000. Intangible development costs total $352000. After extraction has occurred, Waterway must restore the property (estimated fair value of the obligation is $188000 ), after which it can be sold for $512000. Waterway estimates that 6000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? (Round intermediate calculations to 2 decimal ploces, eg. 20.25 and final answer to nearest dollar amount, es. 102456J Debit to inventory for $238203 Credit to inventory for $234000 Credit to Accumulated Depletion for $391800 Debit to Accumulated Depletion for $238203