Mateen Oil Company acquired the following three unexplored leases July 12, 2019 Lease A $550,000 September 25, 2019 Lease B $360,000 October 31, 2019 Lease C $490.000 All leases are classified as individually significant a On December 31, 2019. Lease A is determined to be 66% Impaired. b On December 31, 2020, Lease Als determined to be impaired a total of 76%, Lease C, 38% Lease B is not impaired. c. On December 31, 2021, Lease A is considered to be 100% impaired and is abandoned. Lease B is 33% impaired and a well on Loose C found proved reserves. Required: Prepare journal entries for all of the above transactions except the initial purchase