Give the entries to record impairment. Thank you.

Maxwell Oil and Gas Company owned the following unproved property as of the end of 2019 : Although no activity took place on Lease A during the year, Maxwell decided that Lease A was not impaired, because there were still three years left in that lease's primary term. Two dry holes were drilled on Lease B during the year. However, since Maxwell intended to drill one more well on Lease B in the coming year, it decided that Lease B was only 40% impaired. With respect to the individually insignificant leases, past experience indicates that 70% of all unproved properties assessed on a group basis will eventually be abandoned. Maxwell's policy is to provide at year-end an allowance equal to 70% of the gross cost of these properties. The allowance account had a balance of $20,000 at year-end. REQUIRED: Give the entries to record impairment