16. Charles Oil Incorporated capitalized the following costs relating to two unproved leases: Cumprer 5 Acquisition Cost of Unproved Property-Saccessful Efforts Charles Oil Incorporated negotiated a new lease on Lease C immediately following the end of the primary term. The lease bonus was \$150/acre on the new lease. Before the end of the primary term, Charles Oil also obtained a new lease on Lease D at a lease bonus rate of $130/acre. This lease was to take effect prior to the end of the primary term. REQUIRED: Prepare joumal entries for the two leases