The following costs were incurred by Force Petroleum Company during the fiscal year ending May 31, 2020.

REQUIRED: Prepare journal entries for the above transactions, assuming that Force Petroleum Company uses the full cost method of accounting.

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June 4, 2019 August 19, 2019 December 1, 2019 February 1, 2020 April 3, 2020 April 30, 2020 G&G costs... Lease bonus on a 1,000-acre lease. Other acquisition costs.. Dry-hole costs of an exploratory well. Successful well costs.... Cost of production facilities Production costs..... .... $ 80,000 90/acre 4,000 410,000 650,000 390,000 38,000