If a Natural Resource Is Extracted and Then Immediately Sold,which

question 63

Multiple Choice

If a natural resource is extracted and then immediately sold,which of the following accounts are debited and credited?

• A)debit Cost of Goods Sold and credit Inventory
• B)debit Natural Resource and credit Accumulated Depletion
• C)debit Depletion Expense and credit Accumulated Depletion
• D)debit Depreciation Expense and credit Accumulated Depreciation

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