tion 4 of 10 Policies nt Attempt in Progress -/5 E: July 1, 2021, Sheridan Company purchases equipment for $38,400. The company uses straight-line depreciation. It estimates the uipment will have a 10-year life. Sheridan Company has a December 31 year end. Record the purchase of the equipment. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation July 1/21 eTextbook and Media Debit Credit