The following costs were incurred by Force Petroleum Company during the scal year ending May 31, 2020 June 4, 2019 Cost of (3&6 activities to locate an oil prospect, $50,000 August 19, 2019 Acquisition costs for a l000-acre lease: lease bonus $80facre; other costs incurred in acquiring the property, $2,000 Decemberl, 2019 Dry-hole costs of an exploratory well, $400,000 February, 2020 Successful exploratory well costs, $600,000 April 3, 2020 Cost of production facilities such as ow lines and separators, $500,000 April 30, 2020 Production costs, $40,000 Required: Prepare journal entries for the above transactions, assuming that Force Petroleum Company uses the full cost method of accounting