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Hereare selected 2022 transactions of Sheridan Company. Jan. 1 Retired a piece of machinery that was purchased on January 1,2012. The machine cost $62,400 and
Hereare selected 2022 transactions of Sheridan Company. Jan. 1 Retired a piece of machinery that was purchased on January 1,2012. The machine cost $62,400 and had a usefullife of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1,2020 . The computer cost $37,800 and had a usefullife of 3 years with no salvage value. The computer was sold for $5.900 cash. Dec 31 Sold a delivery truck for $9000 cash. The truck cost $31,850 when it was purchased on January 1, 2019, and was depreciated based on a 5 -year usefullife with $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicible. Sheridan Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31. 2021). (Credit account titles are outomaticalfy fidented when amount Is entered. Do not indent manualfy. Recond foumal entries In the order presented in the probiem. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Do not round intermediate calculations)
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