A & B please!

4. Basic Exploration & Production has a 60% WI in the Barnes lease in Louisiana. The Barnes lease is burdened with a 1/8 royalty, and Complex Resources owns the other 40% WI. Basic and Complex agreed that Basic would deliver 20,000 mcf of September production. During September 2016, Basic sold 20,000 mcf of gas @ 15.025 psia from the Barnes lease. The heating content of the gas is 1.2 MMBtu/Mcf at 14.73 psia. The contract selling price is $3.00 per MMBtu. Assume that the 20,000 mcf sale represents the entire production for the Barnes lease for September a. (4 pts) What is the gross sales amount in dollars for the September 2016 sale of 20,000 mcf? b. (6 pts) Prepare Basic's journal entry to record the sale assuming the purchaser pays 100% of the gross sale amount to Basic. Ignore severance taxes. 4. Basic Exploration & Production has a 60% WI in the Barnes lease in Louisiana. The Barnes lease is burdened with a 1/8 royalty, and Complex Resources owns the other 40% WI. Basic and Complex agreed that Basic would deliver 20,000 mcf of September production. During September 2016, Basic sold 20,000 mcf of gas @ 15.025 psia from the Barnes lease. The heating content of the gas is 1.2 MMBtu/Mcf at 14.73 psia. The contract selling price is $3.00 per MMBtu. Assume that the 20,000 mcf sale represents the entire production for the Barnes lease for September a. (4 pts) What is the gross sales amount in dollars for the September 2016 sale of 20,000 mcf? b. (6 pts) Prepare Basic's journal entry to record the sale assuming the purchaser pays 100% of the gross sale amount to Basic. Ignore severance taxes