Sheridan Company owns equipment that cost $120,000 when purchased on January 1, 2018. It has been depreciated using the straight-line method based on estimated salvage value of $15,000 and an estimated useful life of 5 years. Prepare Sheridan Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(a)		Sold for $61,000 on January 1, 2021.
(b)		Sold for $61,000 on May 1, 2021.
(c)		Sold for $33,500 on January 1, 2021.
(d)		Sold for $33,500 on October 1, 2021.

No.	Account Titles and Explanation	Debit	Credit
(a)
(b)
	(To record depreciation expense)
	(To record disposal of equipment at a gain)
(c)
(d)
	(To record depreciation expense)
	(To record disposal of equipment at a loss)