On March 31, 2024, Sheridan Inc.'s general ledger showed: Cash $374,000; Development Costs $493,000; Buildings $918,000; Accumulated Depreciation $170,000 Equipment $476,000; Accumulated Depreciation-Equipment $85,000 Land $1,462,000; Accounts Payable $195,500; Loan Payable $1,555,500; Common Shares $844,900; and Retained Earnings $872,100. Sheridan allows access to immersive augmented reality movies, performing arts, and games in the meta-playhouse. During the month of April, the following transactions occurred: Apr. 1 Sheridan acquired the rights for six new games. The total cost was $51,000, of which $34,000 was paid in cash and the remainder was on account. (Hint: Sheridan uses the account Development Costs to record these as an asset.) Paid $115,600 of the accounts payable owning at the end of March. Sheridan also plans to allow the players of its games to purchase custom 3D avatars. It plans to sell these avatars for $850 each. Sheridan hired a graphic designer at a monthly salary of $12,750 to help participants design their custom avatars. 5 10 11 17 Paid $30,600 for a digital advertising campaign conducted on a social media platform during the first week of April. Sheridan paid $85,000 to the winner of its "Rising Star" content creation contest, which was aimed at university and college students. Sheridan ran this contest to identify up-and-coming content developers that it could potentially recruit to work for the company. Purchased new IT equipment costing $326,400 on account.

On March 31, 2024, Sheridan Inc's general ledger showed: Cash $374,000; Development Costs $493,000; Buildings $918,000; Accumulated Depreciation \$170,000 Equipment \$476,000; Accumulated Depreciation-Equipment $85,000 Land \$1,462,000; Accounts Payable $195,500; Loan Payable $1,555,500; Common Shares $844,900; and Retained Earnings $872,100. Sheridan allow5 access to immersive augmented reality movies, performing arts, and games in the meta-playhouse. During the month of April, the following transactions occurred: Apr. 1 Sheridan acquired the rights for six new games. The total cost was $51,000, of which $34,000 was paid in cash and the remainder was on account. (Hint Sheridan uses the account Development Costs to record these as an asset.) 3. Paid $115,600 of the accounts payable owning at the end of March. 5. Sheridan also plans to allow the players of its games to purchase custom 3D avatars. It plans to sell these avatars for $850 each. Sheridan hired a graphic designer at a monthly salary of $12.750 to help participants design their custom avatars. 10 Paid $30,600 for a digital advertising campaign conducted on a social media platform during the first week of April. 11 Sheridan paid $85,000 to the winner of its "Rising Star" content creation contest, which was aimed at university and college students. Sheridan ran this contest to identify up-and-coming content developers that it could potentially recruit to work for the company. 17 Purchased new IT equipment costing $326,400 on account. 18. Received $71,400 from a commercial customer for banner advertising in one of Sheridan's most popular games during the first two weeks of April. 19. Paid $2,550 of the balance due on the loan payable, as well as $850 of interest on the loan, 22 Paid utility costs of $3,910. 23 Paid professional fees of $22,100 for legal services. 24 Paid $11,220 to a YouTube influencer for services provided in April. 30 Received $238,000 from customers for annual subscription fees, which allow subscribers to access the metaplayhouse for the next 12 months, starting on May 1. 30. Paid salaries of $190,400. 30 Borrowed $170,000, taking out a two-year loan with a 4.5% interest rate. On March 31, 2024, Sheridan Inc's general ledger showed: Cash $374,000; Development Costs $493,000; Buildings $918,000; Accumulated Depreciation \$170,000 Equipment \$476,000; Accumulated Depreciation-Equipment $85,000 Land \$1,462,000; Accounts Payable $195,500; Loan Payable $1,555,500; Common Shares $844,900; and Retained Earnings $872,100. Sheridan allow5 access to immersive augmented reality movies, performing arts, and games in the meta-playhouse. During the month of April, the following transactions occurred: Apr. 1 Sheridan acquired the rights for six new games. The total cost was $51,000, of which $34,000 was paid in cash and the remainder was on account. (Hint Sheridan uses the account Development Costs to record these as an asset.) 3. Paid $115,600 of the accounts payable owning at the end of March. 5. Sheridan also plans to allow the players of its games to purchase custom 3D avatars. It plans to sell these avatars for $850 each. Sheridan hired a graphic designer at a monthly salary of $12.750 to help participants design their custom avatars. 10 Paid $30,600 for a digital advertising campaign conducted on a social media platform during the first week of April. 11 Sheridan paid $85,000 to the winner of its "Rising Star" content creation contest, which was aimed at university and college students. Sheridan ran this contest to identify up-and-coming content developers that it could potentially recruit to work for the company. 17 Purchased new IT equipment costing $326,400 on account. 18. Received $71,400 from a commercial customer for banner advertising in one of Sheridan's most popular games during the first two weeks of April. 19. Paid $2,550 of the balance due on the loan payable, as well as $850 of interest on the loan, 22 Paid utility costs of $3,910. 23 Paid professional fees of $22,100 for legal services. 24 Paid $11,220 to a YouTube influencer for services provided in April. 30 Received $238,000 from customers for annual subscription fees, which allow subscribers to access the metaplayhouse for the next 12 months, starting on May 1. 30. Paid salaries of $190,400. 30 Borrowed $170,000, taking out a two-year loan with a 4.5% interest rate