Give the journal entries necessary to record the following expenditures made by Cardinal Company during 2020:

Recompletion costs on well #849 of $250,000 for IDC and $100,000 for equipment. The well was recompleted at 11,000 feet, which was a new producing formation.

Recompletion costs on well #621 for $450,000 for IDC and $50,000 for equipment. The well was deepened to 15,000 feet to evaluate a new unproved horizon. Proved reserves were not found.

Workover costs on well #284 for $75,000 necessary to restore production after sand had clogged the tubing.