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Elanso [62]
3 years ago
9

Failure to pay a loan is referred to as:

Business
2 answers:
Ksivusya [100]3 years ago
8 0
Yea he is right it's a default as it would be a bad debt
LiRa [457]3 years ago
3 0
That would be:

B.) Defualt
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Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access th
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Answer and Explanation:

the journal entry is given below:

Depletion Expense $1,358,500

         To Accumulated Depletion $1,358,500.

(Being depletion expense is recorded)

Here the depletion expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

Working note

Depletion expense is

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3 years ago
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Answer:

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