Eta Oil Corporation incurred the following costs during the year:

a. Began drilling an exploratory-type stratigraphic test well, incurred $60,000 of IDC

b. Began drilling an exploratory-type stratigraphic test well, incurred $80,000 of IDC and $20,000 in equipment costs

c. Began drilling a development-type stratigraphic test well, incurred $250,000 of IDC

d. Began drilling a development-type stratigraphic test well, incurred $300,000 of IDC and $80,000 in equipment costs The following results were obtained late in the year:

a. The well in

(a) was determined to be dry.

b. The well in

(b) found proved reserves.

c. The well in

(c) was determined to be dry.

d. The well in

(d) found proved reserves.

REQUIRED: Prepare the necessary entries.