Basic Pipeline Company incurred the following usage on its system during August 2010: Shrinkage through gas plant2,500

Question:

Basic Pipeline Company incurred the following usage on its system during August 2010:

Shrinkage through gas plant—2,500 MMBtu Transmission compressor fuel—14,000 MMBtu The posted spot price for August was $1.60 per MMBtu.

REQUIRED:

Prepare the journal entries to record the above activities.

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Fundamentals Of Oil And Gas Accounting

ISBN: 9780878147939

4th Edition

Authors: Rebecca A. Gallun, Ph.D. Wright, Charlotte J, Linda M. Nichols, John W. Stevenson

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Question Posted: May 30, 2024 02:01 AM

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Basic Pipeline Company incurred the following usage on its system during August 2010: Shrinkage through gas plant2,500

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Fundamentals Of Oil And Gas Accounting

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