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 gallons were drilled. Journalize the adjusting entry at December 31 to recognize the depletion expense.
Journal 
Definitions:
Respiratory Infection
An infection that can affect the lungs, bronchial tubes, or upper respiratory tract, leading to symptoms like coughing and difficulty breathing.
Oil Painting
An art form where pigments are mixed with oils to create artwork on canvas or other materials.
Nursing Process
A systematic approach used by nurses to ensure the quality and effectiveness of patient care, involving assessment, diagnosis, planning, implementation, and evaluation.
Evaluation Phase
A stage in a process where the effectiveness or value of an intervention, action, or strategy is assessed.
Q21: Minerals removed from the earth are classified
Q45: What is the effect on the accounting
Q48: During a bank reconciliation process,<br>A) outstanding checks
Q97: Use the following information and calculate the
Q106: It's not unusual for large companies to
Q106: Anderson Co. issued a $50,000, 60-day, discounted
Q107: A lathe priced at a fair market
Q111: Eddie Industries issues $1,500,000 of 8% bonds
Q113: Hadley Industries warrants its products for one
Q165: If the maker of a note fails