2. Hard Luck Oil Company had the following transactions in 2007 concerning test-well contributions: a. Contracted with Tiger Oil Company, agreeing to pay $50,000 if a well was drilled on Tiger's lease to a depth of 10,000 feet. b. Contracted to pay Landa Oil Company S40,000 if a well being drilled on Landa's property was dry c. Agreed to pay Richards Oil Company $100,000 if a well being drilled reached a depth of 7,500 feet Results from the above transactions were the following: a. Because of mechanical difficulty, the Tiger well was abandoned at 9,500 feet. 6. The Landa well was dry c. The Richards well was completed as a producer at 12,000 feet Prepare entries for the above transactions, assuming Hard Luck Oil Company fulfilled its contractual obligations