Mercury Oil Company owned the following unproved property at 12/31/61:

Significant Leases	Cost	Impairment	Insignificant Leases	Cost	Total Impairment
Lease A	$370,000	$160,000	Lease C	$50,000
Lease B	$540,000	$180,000	Lease D	$40,000
			Lease E	$35,000
			Lease F	$25,000
				$150,000	$55,000

Requirement:
 Prepare journal entries for 2062, assuming the following events:
 a. Lease A was sold for $380,000.
 b. Lease B was fully impaired.
 c. Proved reserves were found on Lease E and Lease F.