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Linden Corporations is negotiating for the purchase of Sheridan Compary. The following is an abbreviated balance sheet of Sheridan. Additional Information: 1. Land is undervalued

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Linden Corporations is negotiating for the purchase of Sheridan Compary. The following is an abbreviated balance sheet of Sheridan. Additional Information: 1. Land is undervalued by $20.500. 2. Equipment is cvervalued by 53,000 . Sheridan agrees to sell the business to Linden for $385,500. Prepare the entry to record the purchase of Sheridan Companyon Linden's books. (Credit account titles are autematicolly indented when the amount is entered. Do not indent monuelly. If no entry is required, select "No Entry" for the account titles and enter 0 for the anounts. List oll debit entries before credit entries.)

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