Cramer Oil Company obtained shooting rights on 20,000 acres at $10/acre and then hired an independent geological firm to conduct the initial G&G work for $360,000. As a result of the G&G work, Cramer Company decided to lease 750 acres (ignore acquisition costs) and hired the same geological firm to perform detailed G&G studies on the 750 acres at a cost of $105,000. Give the entries to record these transactions.