Mabel Oil Company decided to explore some acreage in Wyoming before acquiring any leases. Mabel acquired shooting rights only on 15,000 acres owned by Mr. T for \($0.10/acre.\) Mabel obtained shooting rights coupled with an option to lease on 10,000 acres owned by Mr. H for \($0.25/acre.\) After completing G&G surveys at a cost of \($85,000,\) Mabel decided to lease 5,000 acres from Mr. T, paying a bonus of \($35\)/acre.

Mabel also decided to lease 5,000 acres from Mr. H, paying the same bonus of \($35\)/acre.

Mabel’s income statement has seen better days, and although it won’t help much, Mabel decides to capitalize every possible cost. Give the entries.