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These are all one problem .oooo Verizon 7:21 AM 2 Chapter 09 Homework Problem 9-4A At January 1, 2017, Sheridan Company reported the following property,

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image text in transcribedThese are all one problem
.oooo Verizon 7:21 AM 2 Chapter 09 Homework Problem 9-4A At January 1, 2017, Sheridan Company reported the following property, plant, and equipment accounts 97.300,000 The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no During 2017, the following selected transactions occurred Purchased land for $5.00 million. Paid $1.250 million cash and issued a 3-year, 6% note payable for the balance. Interest on the note is payable annually each April 1 Sold equipment for $210,000 cash. The equipment cost $2.40 million when originally purchased on January 1, 2009 Apr 1 May I Sold land for $4.92 million. Received $840,000 cash and accepted a 3-year, 596 note for the balance. The land cost $1.40 million when purchased on June 1, 2011. Interest on the note is due y1 Purchased equipment for $2.50 million cash Retired equipment that cost $1 million when purchased on December 31, 2007. No proceeds were received. Dec. 31 Record the above transactions. (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 o for the amounts.) Dale Account Titles and Explanation

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