Maqam Oil Corporation leased 3,000 unexplored acres, paying a lease bonus of $150/acre Delay rentals are specified at a rate of $4/acre. The lease alto speafled that Maqam could abandon the lease in 1,000-acre portions. At the end of year 1, Maqam abandn 1,000 acres and paid a delayed rental on the remander Required: Prepare journal entries for the above activities. For the tocibar, press ALT+F10 (PC) or ALT+N+10M) BIVG Paragraph Arial 10pt