Longhorn Oil and Gas Corporation operates the Flat Hill Basin. Along with oil, this

field produces large quantities of salt water. The salt water is highly corrosive, and

as a result, the downhole production equipment is subject to frequent replacement.

During the first half of $2019,$ Longhorn must replace the tubulars in wells A$,$ B$,$ and

C$.$ Wells X$,$ Y$,$ and Z $($newly drilled wells$)$ are in the process of being completed.

During April, Longhorn receives a shipment containing $500$ joints of production

tubing. The invoice totals $$500,000$ plus $$3,000$ for transportation and hauling.

The production tubing is installed in the following wells:

REQUIRED: Record the purchase and installation of the production tubing.