i need accounting experts only$-$Heagy Oil Company has production on a lease in Louisiana with the following$$RI $1/5$ RI$$ORI$-1/16$ of $4/5$ of gross production$$Joint WI$$ Amax Company $(40\%)$ and Heagy Company $(60\%)$During April, $5,000($gross$)$ barrels of oil $($after correction for temperature, gravity, and BS&W$)$ were produced and sold. Assume the price for oil is S$120\mathrm{.}00/$bl$,$ and the severance tax rate in Louisiana is $5\%.$REQUIRED:

$*$ Prepare the journal entry for Heagy Oil to record the sale of the oil, given that the purchaser assumes the responsibility of distributing severance taxes and royalty income.

$*$ Prepare the journal entry for Heagy Oil to record the sale of the oil, given that Heagy Company assumes the responsibility and receives $100\%$ of the proceeds.

$*$ Prepare the journal entry for the royalty interest owner to record the sale of the oil.

$*$ Prepare the journal entry for the overriding royalty interest owner to record the sale of the oil.

$*$ Prepare the journal entry for Lomax to record the sale of the oil.