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Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
Edition 5ISBN: 9781630181031Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
Edition 5ISBN: 9781630181031 Exercise 25
Given the following data for Float Energy: 
a. Give the entries to record the abandonment of both Lease A and Lease B.
b. Give the entries assuming instead that both Lease A and Lease B were proved, i.e.,
oil or gas was discovered on the leases.
a. Give the entries to record the abandonment of both Lease A and Lease B.b. Give the entries assuming instead that both Lease A and Lease B were proved, i.e.,
oil or gas was discovered on the leases.
Explanation
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a.Entries of abandonment of both the unp...
Fundamentals of Oil & Gas Accounting 5th Edition by Rebecca Gallun, Charlotte Wright
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