SheridanIndustries Corp. purchased the following assets and also constructed a building. All this was done during the current year using a variety of financing alternatives. Assets 1 and 2 These assets were purchased together for $121,000 cash. The following information was gathered:

		Initial Cost on Seller's Books		Depreciation to Date on Seller's Books		Book Value on Seller's Books		Appraised Value
Machinery			$116,000		$59,000		$57,000		$120,000
Equipment			61,000		10,000		51,000		40,000

Asset 3 This machine was acquired by making a $9,200 down payment and issuing a $30,900, two-year, zero-interest-bearing note. The note is to be paid off in two $15,450 instalments made at the end of the first and second years. It was determined that the asset could have been purchased outright for $35,200. Asset 4 A truck was acquired by trading in an older truck that has the same value in use. The newer truck has options that will make it more comfortable for the driver; however, the company remains in the same economic position after the exchange as before. Facts concerning the trade-in are as follows:

Cost of truck traded		$106,000
Accumulated depreciation to date of exchange		35,000
Fair market value of truck traded		81,000
Cash paid by Sheridan		10,000
Fair market value of truck acquired		91,000

Asset 5 Equipment was acquired by issuing 180 common shares. The shares are actively traded and had a closing market price a few days before the equipment was acquired of $11 per share. Alternatively, the equipment could have been purchased for a cash price of $1,955. Construction of Building A building was constructed on land that was purchased January 1 at a cost of $158,000. Construction began on February 1 and was completed November 1. The payments to the contractor were as follows:

Date		Payment
Feb. 1		$129,000
June 1		360,000
Sept. 1		480,000
Nov. 1		109,000

To finance construction of the building, a $614,000, 14% construction loan was taken out on February 1. At the beginning of the project, Sheridan invested the portion of the construction loan that was not yet expended and earned investment income of $4,000. The loan was repaid on November 1 when the construction was completed. The firm had $207,000 of other outstanding debt during the year at a borrowing rate of 10% and a $197,000 loan payable outstanding at a borrowing rate of 6%.

(a)

Sheridan uses a variety of alternatives to finance its acquisitions. Record the acquisition of each of these assets, assuming that Sheridan prepares financial statements in accordance with IFRS. Use the net amount to record the note. (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. Round capitalization rate to 2 decimal places, e.g. 52.75% and final answers to 0 decimal places, e.g. 5,275.)