Safety & knowledge of the job
Answer:
Option B: Debit card
Explanation:
Checking account is simply a type of an account which helps it users to be able to pay bills. It is an account into which an individual can deposits money and from which an individual also withdraws money by the use of check (writing checks) or using a debit card.
A debit card is a type of withdrawal card that helps an individual to withdraw cash from an ATM or to pay directly for goods or services at stores and restaurants and others. It is also defined as a plastic card used to withdraw cash from a checking account or make payments electronically without having to write a check.
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
= ($5,900,000 + $600,000) ÷ $2,000,000 × 418,000
= $1,358,500
