Assume the following data for the following wells commingled production tanks on the Willmington Ranch located in Lavaca County, Texas. Measured production is 2,000 barrels from Lease C and 2,280 barrels from Lease D. After treatment at the central tank battery, 4,500 barrels are sold. Lease C Wells Well 1 Well 2 Lease D Wells Well 1 Well 2 Well 3 24-Hr Test (bbl) 30 40 24-Hr Test (bbl) 20 35 50 Days Produced 28 30 Days Produced 30 30 26 Current Spot Oil Price Severance Tax Rate Working Interest Royalty interest $46.00/bbl 5% 100% 1/8th . Prepare entries recognizing revenue at time of sale if the OPERATOR assumes the responsibility of distributing severance taxes and royalty. What amount of gross revenue, royalty, severance taxes and net revenue should the Operator record for each well (Lease C-Well 1 & Well 2 and Lease D-Well 1, Well 2, & Well 3)? . Assume the following data for the following wells commingled production tanks on the Willmington Ranch located in Lavaca County, Texas. Measured production is 2,000 barrels from Lease C and 2,280 barrels from Lease D. After treatment at the central tank battery, 4,500 barrels are sold. Lease C Wells Well 1 Well 2 Lease D Wells Well 1 Well 2 Well 3 24-Hr Test (bbl) 30 40 24-Hr Test (bbl) 20 35 50 Days Produced 28 30 Days Produced 30 30 26 Current Spot Oil Price Severance Tax Rate Working Interest Royalty interest $46.00/bbl 5% 100% 1/8th . Prepare entries recognizing revenue at time of sale if the OPERATOR assumes the responsibility of distributing severance taxes and royalty. What amount of gross revenue, royalty, severance taxes and net revenue should the Operator record for each well (Lease C-Well 1 & Well 2 and Lease D-Well 1, Well 2, & Well 3)