Exercise 11-14. Sheffield Company shows the following entries in its Equipment account for 2018. All amounts are based on historical cost. Equipment 2018 2018 Jan. 1 Balance 147,610 June 30 Cost of equipment sold Aug. 10 Purchases 34,080 (purchased prior to 2018) 20,950 12 Freight on equipment purchased 740 2,810 25 Installation costs 530 Nov. 10 Repairs Prepare correcting entry if necessary. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT