12. During 2005, Fortunate Oil Company obtained the following leases: Lease Acres 3,000 B 4,000 5,000 In obtaining these leases, Fortunate Oil Company incurred shooting rights on Leases A and C at $0.50 an acre and incurred the following costs: Salaries for exploration activities $50,000 Mapping costs for exploration activities 20,000 Minor repairs of G&G exploration equipment 1,000 Give entries for the above transactions