An Oil Well Cost $1,832,500 and Is Calculated to Hold

An oil well cost $1,832,500 and is calculated to hold 160,000 barrels of oil.There is no residual value.Which journal entry is needed to record the expense for the extraction of 37,000 barrels of oil during the year? All 37,000 barrels were sold ding the year.(Round any intermediate calculations to the nearest cent,and your final answer to the nearest dollar. )

A) $$\begin{array} { | c | c | c | } \hline \text { Cost of Goods Sold - Oil } & 423,650 & \\\hline \text { Accumulated Depletion - Oil } & & 423,650 \\\hline\end{array}$$
B) $$\begin{array} { | c | l | l | } \hline \text { Depletion Expense - Oil } & 423,650 & \\\hline \text { Oil Revenue } & & 423,650 \\\hline\end{array}$$
C) $$\begin{array} { | c | c | c | } \hline \text { Depletion Expense - Oil } & 423,650 & \\\hline \text { Accumulated Depletion - Oil } & & 423,650 \\\hline\end{array}$$
D) $$\begin{array} { | l | l | l | } \hline \text { Oil Reserve Inventory } & 423,650 & \\\hline \text { Accumulated Depletion - Oil } & & 423,650 \\\hline\end{array}$$