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Instructions Carter Co acquired drilling rights for $18.550,000. The oil deposit is estimated at 74.200.000...

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Instructions Carter Co acquired drilling rights for $18.550,000. The oil deposit is estimated at 74.200.000 gallons. During the current year, 6,000,000 guions were drilled Required Journalise the adjusting entry at December 31 ao mcognize the depletion expense. Reter to the Churt of Accounts for exact woning of account teles General Journal X bemalte e anchestery entry at December 31 to recognize the completion expense. Peter to the Churt of Accounts for exact worting of account titles WE: JOURNAL DATE DESCRIPTION POST REF DEBIT Capo E

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