Give the entry to record abandonment in each of the following cases.

a. Universal Energy Company abandoned an unproved property that cost

$300,000. The property was considered significant and had been impaired

$100,000 on an individual basis.

b. Universal also abandoned an unproved property that was not considered individually significant. The property cost $25,000, and the group allowance account had a balance of $320,000 at the time of the abandonment.