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Jomana Oil Company, uses successful cost approach, paid the following cost in relation to its leases in 2020 Shooting rights coupled with an option to

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Jomana Oil Company, uses successful cost approach, paid the following cost in relation to its leases in 2020 Shooting rights coupled with an option to lease $60,000 Legal cost for title defense $30,000 Lease bonus $80,000 Dry holes contribution $40,000 Delinquent property taxes(nonrecoverable) $10,000 Clerical and record keeping cost $5,000 Assume that Jomana Company paid delay rental of $8,000 on January 2, 2021. Which of the following entry is correct to record the transactions? DA A debit to surrender lease expense of $8,000 OB. A credit to cash of $2,000 OC. A debit to delay rental expenses of $8,000 OD. A credit to receivable from lessor of $8,000

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