Sheridan Group provides many of the laminated products that teachers use in their classrooms. Sheridan management considers the company to also be quite green, as it captures the small cut-out pieces and sells them to an organization that uses them in its production of plastic tableware. To date, Sheridan has treated these cut-outs as a by-product, since it receives a small value for the items upon sale. The quantities and values of both the main laminated products and the small cut-outs, created in a joint process that costs $2,000, are as follows. Both products are sold at the split-off point and not processed further. All sales are on account. Record the same transactions as noted in part (a), but now under the production method of accounting for by-products. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)