12) Maplewood Properties bought three lots in a subdivision for a?lump-sum price. An independent appraiser valued the lots as?follows:

Lot 1 Appraised Value $294,000

Lot 2 Appraised Value $122,500

Lot 3 Appraised Value $73,500

Maplewood paid $380,000 in cash. Record the purchase in the?journal, identifying each?lot's cost in a separate Land account. Round decimals to two?places, and use the computed percentages throughout. ?(Record a single compound journal entry. Record debits?first, then credits. Select the explanation on the last line of the journal entry?table.)

10) 4. SouthShorePetroleum holds huge reserves of oil. Assume that at the end of 2017?, SouthShorePetroleum?'s cost of oil reserves totaled $408,000,000?, representing 240,000,000 barrels of oil. Suppose SouthShorePetroleum removed and sold 30,000,000 barrels of oil during 2018. Journalize depletion expense for 2018. ?(Assume no residual value. Record debits?first, then credits. Select the explanation on the last line of the journal entry?table.)

_Q3) Peter Company purchased equipment on January ?1, 2018 $28,000. Suppose Peter Company sold the equipment for $4,000 on December31,2019. Accumulated Depreciation as of December ?31, 2019 $11,000. Journalize the sale of the?equipment, assuming?straight-line depreciation was used.