The following costs incurred by the exploration department of Matrix Energy Corporation during 2018. Shooting rights ... $ 25,000 Bottom-hole contribution ..... 43,000 Supplies for exploration (G&G) activities ...... 9,000 Mapping costs for exploration (G&G) activities .... 29,000 Salaries for exploration (G&G) activities. .... 190,000 Depreciation of exploration (G&G) equipment...... 10,000 Transportation for seismic crew ........ 6,000 Operating costs for exploration (G&G) equipment ....... 8,000 REQUIRED: Give the entries to record these transactions. Steven Energy Company entered into the following test-well contribution agreements: a. On June 2, 2018, a bottom-hole contribution agreement was obtained requiring a payment of $80,000 when the contract depth of 14,000 feet was reached. The contract depth was reached on September 21, 2018, and the required payment was made. b. On July 28, 2018, a dry-hole test-well contribution was entered into, requiring payment of $64,000 if the well was dry but no payment if the well was successful 1) Assume the well is successful. 2) Assume the well is dry. REQUIRED: Prepare necessary entries for the above transactions