4 of 5 View Policies < > Show Attempt History Current Attempt in Progress Selected transactions for Sheridan Company during its first month in business are as follows. 5 25 Sept. 1 Stockholders invested $12.400 cash in the business in exchange for common stock. Purchased equipment for $10,200 paying $3,200 in cash and the balance on account. Paid $2.140 cash on balance owed for equipment. 30 Declared and paid a $650 cash dividend. 1.5/3 Sheridan's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable. No. 311 Common Stock, and No. 332 Dividends. (a) manuany recoro journar entries in the order presented in the prooiem ir no entry is required, serect wo Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Sept. 1: Cath Common Stock Sept 5 Equipment Cail Accounts Payable Sept 25+ Accounts Payable Cash Sept. 00 + Dividen Casti Debit 12400 10200 2140 650 Credit 12400 1200 7000 2140 650 (b) Post the transactions using the standard account form. (Post entries in the order of journal entries presented in the previous part) Cash No. 101 Date Explanation Ref. Debit Credit Balance 31 31 n" Equipment No. 157 Date Explanation Ref. Debit Credit Balance 31 Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance J1 31 Equipment No. 157 Date Explanation Ref. Debit Credit Balance 31 Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance 31 31 Common Stock No. 311 Date Explanation Ref. Debit Credit Balance 31 Dividends No. 332 Date Explanation Ref. Debit Credit Balance eTextbook and Media 31