holds huge reserves of oil. Assume that at the end of 2017 , South Shore Petroleum 's cost of oil reserves totaled $ 252 comma 000 comma 000 , representing 180 comma 000 comma 000 barrels of oil. Suppose South Shore Petroleum removed and sold 12 comma 000 comma 000 barrels of oil during 2018. Journalize depletion expense for 2018.
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