Prepare tabular summaries to record these transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Sheridan Company retires its delivery equipment, which cost $ 49,970. Accumulated depreciation is also $ 49,970 on this delivery equipment. No salvage value is received.(b)Assume the same information as in part (a), except that accumulated depreciation for the equipment is $ 36,820 instead of $ 49,970.