EACIIBE Presented here are selected transactions for Sheridan Limited for 2018. Sheridan uses straight-line depreciation and records adjusting entries annually. Sold a delivery truck for $16.310 cash. The truck cost $57.930 when it was purchased on January 1, 2015, and was depreciated based on a four year useful life with a $6,310 residual value. an. 1 Sold computers that were purchased on January 1, 2016. They cost $10,476 and had a useful life of three years with no residual value. The computers were sold for $470 cash Retired equipment that was purchased on January 1, 2009. The equlpment cost s152,000 and had a useftul life of 10 years with no residual value. No proceeds were recelved Sept. 1 Dec. 30 Your answer is partlally correct. Try again. Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 7500 Scpt. 1 (Ta recard depreciation expense) (To record the sele of equipment for cash) Dec. 30 (To record deprecielion expense) (Ta record the relirement of equipment) List Of Accounts Exercise 9-7 a-b Accounts Payable Accounts Receivable Accumulated Depreciation Buildings Accumulated Amortization - Copyrights Accumulated Amortization - Development Costs Accumulated Depreciation Equipment Accumulated Amortization - Franchises Accumulated Depreciation Furniture Accumulated Amortization Patents Accumulated Depreciation - Vehicles Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debts Expense Bank Charges Expense Bank Loan Payable Buildings Cash Common Shares Copyrights Cost of Goods Sold Depreciation Expense Development Costs Equipment Franchises Furniture Gain on Disposal Goodwill Impairment Loss Income Tax Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Land Improvements Loss on Disposal Mortgage Payable No Entry Notes Receivable Office Expense Patents Prepaid Insurance Rent Expense Repairs and Maintenance Expense Research Expenses Retained Earnings Salaries Expense Sales Sales Discounts Supplies Trademarks Vehicles