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Sheridan Mail Service purchased equipment for $2440. Sheridan paid $470 in cash and signed a note for the balance. Sheridan debited the Equipment account, credited

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Sheridan Mail Service purchased equipment for $2440. Sheridan paid $470 in cash and signed a note for the balance. Sheridan debited the Equipment account, credited Cash and O debited the Capital account for $1970. O credited another asset account for $470. O credited a liability account for $1970. O nothing further must be done

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