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Intangible drilling costs must be capitalized and recovered through depletion.
Trial Balance
A list of all general ledger accounts and their balances at a particular time, ensuring that debits equal credits in the double-entry accounting system.
Normal Balances
The side (debit or credit) of an account that is expected to have a higher balance given the account type's role in accounting.
Ledger
A book or collection of financial accounts in which the two-fold effect of transactions are recorded.
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