follows: e Wildcat Oil Company sold or used the gas produced on Lease A during March as a 600 Mcf used as fuel to operate lease equipment h 800 Mcf sold to R Company at $12/Mcf Assume a 11 RI and a production tax of 5%, and assume that the lease agreement has a free fuel clause, but production taxes still have to be paid according to state law. The selling price of gas is currently $12/Mcf. REQUIRED: Give the entries necessary to record the gas sold or used, assuming the operator distributes taxes and royalty