Sheridan Company element on March 31, 2021. for $33.120 Thement was purchased on 2011 conteve years and are value of $2.300 Sheridan Company este depreciation for allem de comande 31 Prepare the journal entry to update depreciation to M31.2001. dit account the automatically indeed whether oroindent menys required, elect "No Entry for the accounts and enter for the amounts) Date Account Titles and explanation Credit Mar 31 to record depreciations dit accounts are automatically when the mouse Denetinden select "No Entry for the accounts and enter for the amounts) Date Account Titles and Explanation Mar 31 Debit Credit [to record disposa dent) 022495 etne journal entry to record the sale of the comment Sheridan Comany received 526 345 forte contre automatically indented when the amounts entered. Do not indent manually. If no entry is ruired select "No Entry for the accounts and enter for the amounts) Date Account Titles and Explanation Debit 31 Credit To record disposal of equipment Sheridan Company sells equipment on March 31, 2021. for $33.120 cash. The equipment was purchased on January 5, 2018 at a cost of $83,000, and had an estimated useful life of tive years and a residual value of $2,300. Sheridan Company uses straight-line depreciation for ipment. Adjusting journal entries are made annually at the company year end, December 31 Prepare the journal entry to update depreciation to March 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not inden required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 31 (To record depreciation expense. Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent more select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Mar. 31 (To record disposal of equipment.) Prepare the journal entry to record the sale of the equipment if Sheridan Company received $26,345 cash for it. (Credit account titles are automatico entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Credit Mar. 31 Debit (To record disposal of equipment