Instead of using a contra

Instead of using a contra - expense of $5,000,000 might be...

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Instead of using a contra-asset account to record accumulated depletion, companies  may also decrease the balance of natural resources directly. Therefore, depletion 
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Unformatted text preview: expense of $5,000,000 might be recorded by debiting depletion expense for $5,000,000 and crediting the gold mine for $5,000,000....
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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