Amplify Petroleum holds huge reserves of oil. Assume that at the end of 2023​, Amplify Petroleum​'s cost of oil reserves totaled $80,000,000​, representing 100,000,000 barrels of oil. Suppose Amplify Petroleum removed and sold 20,000,000 barrels of oil during 2024. Journalize depletion expense for 2024. ​(Assume no residual value. Record debits​ first, then credits. Select the explanation on the last line of the journal entry​ table.)

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