World Petroleum holds huge reserves of oil assets. Assume that at the end of 2018, World Petroleum's cost of olreserves totaled $21,000,000, representing 3,000,000 barrels of oil Read the requirements Requirement 1. Which method does World Petroleum use to compute depletion? is the method used to compute depletion Requirement 2. Suppose World Petroleum removed and sold 500,000 barrels of oil during 2019. Journalize depletion expense for 2019. Assume no residual value Record debits first, then credits Select the explanation on the last line of the journal entry table) Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question World Petroleum holds huge reserves of all assets. Assume that at the end of 2018, World Petroleum's cost of oil reserves totaled $21,000,000, representing 3,000,000 barrels of Read the requirements is the method used to compute depletion Requirement 2. Suppose World Petroleum removed and sold 500,000 barrels of oil during 2019. Journalize depletion expense for 2019. Assume no residual value. Record debits first, then credits Select the explanation on the last line of the journal entry table) Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next