Venus Energy Company owned the following unproved property at 12/31/31:

• Significant Leases:
   Lease A: $380,000, Impairment: $170,000
   Lease B: $560,000, Impairment: $190,000
• Insignificant Leases:
   Lease C: $60,000
   Lease D: $45,000
   Lease E: $40,000
   Lease F: $30,000
   Total Cost: $175,000, Total Impairment: $60,000

Requirement:
 Prepare journal entries for 2032, assuming the following events:
 a. Lease A was sold for $400,000.
 b. Lease B was impaired by an additional $25,000.
 c. Proved reserves were found on Lease C and Lease E.