Titan Oil Company owned the following unproved property at 12/31/71:

• Significant Leases:
   Lease A: $430,000, Impairment: $210,000
   Lease B: $640,000, Impairment: $230,000
• Insignificant Leases:
   Lease C: $80,000
   Lease D: $65,000
   Lease E: $60,000
   Lease F: $50,000
   Total Cost: $255,000, Total Impairment: $80,000

Requirement:
 Prepare journal entries for 2072, assuming the following events:
 a. Lease A was abandoned.
 b. Lease B was sold for $620,000.
 c. Proved reserves were found on Lease D and Lease E.