Economy Oil Corporation has a waterflooding system for a reservoir in Okla-homa. Costs of operating the system for the month of July were $40,000. a. Give the entry to record operating expense, assuming the reservoir underlies only Lease A. b. Assume the reservoir underlies the following three leases: Lease A B C Producing Wells 4 7 Injection Wells 2 1 3 Volume of Water 500 400 100 REQUIRED: Give the entry to record operating expense, assuming allocation based on the volume of water