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Branch Oil Co hired a geological firm to conduct initial G&G work for $55,000. As a result of the G&G work, Buff Oil decided to

Branch Oil Co hired a geological firm to conduct initial G&G work for $55,000. As a result of the G&G work, Buff Oil decided to lease 750 acres for a lease bonus of $115 per acre and hired the geological company to perform detailed G&G studies on it for $38,000. The journal entry to record these transactions undersuccessful effortswould be: **assume all expenses paid in Cash.** (there should be 3 entries) (I started this one to help with Format)

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