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Note: there is ONLY 8 lines for all the required journal entries Sheridan Inc. initiated a major company expansion on January 4, 2025. During the
Note: there is ONLY 8 lines for all the required journal entries Sheridan Inc. initiated a major company expansion on January 4, 2025. During the first quarter of 2025, Sheridan acquired several assets that were placed into production on July 1, 2025. The following costs were incurred: Purchase of Warehouse; exchanged 1,200 shares of Sheridan stock with a par value of $5 per share. Sheridan stock is currently trading at $125 per share. Installation of production line equipment Based on this information, prepare the necessary journal entries to record the asset acquisitions assuming that all assets were purchased for cash except for the warehouse. (Credit account titles are automatically indented when amount is entered. Do not indent
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