Joust Oil Company had the following transactions in 2015. Record the transactions. a. Acquired an undeveloped lease,
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Joust Oil Company had the following transactions in 2015. Record the transactions.
a. Acquired an undeveloped lease, $40,000
b. Paid a drilling contractor as follows:
c. Paid costs in evaluating the well, $20,000
d. Completion costs for fracturing and perforating, $25,000
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Related Book For 
Fundamentals Of Oil And Gas Accounting
ISBN: 9781593701376
5th Edition
Authors: Charlotte J. Wright, Rebecca A. Gallun
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