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Current Attempt in Progress Your answer is partially correct. Presented below are selected transactions for the Sheridan Company for 2023. Jan. 1 April 30 Retired a piece of equipment that was purchased on January 1, 2013. The equipment cost $ 105,000 on that date and had a useful life of 10 years with no salvage value. Sold equipment for $53,200 that was purchased on January 1, 2020. The equipment cost $ 147,000 and had a useful life of 5 years with no salvage value. Discarded equipment that was purchased on June 30, 2019. The equipment cost $ 58,800 and was depreciated on a 5-year useful life with a salvage value of $ 2,800. Dec. 31 Journalize all entries required as a result of the above transactions. Sheridan Company uses the staight-line method of depreciation and has recorded depreciation through December 31, 2022. (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 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Accumulated Depreciation Equipment 105000 Date Account Titles and Explanation Debit Credit Jan. 1 Accumulated Depreciation Equipment 105000 Equipment 105000 April 30 Depreciation Expense Accumulated Depreciation Equipment TE (To record depreciation) Cash 53200 Accumulated Depreciation Equipment Equipment 147000 Gain on Disposal of Plant Assets (To record sale of equipment) Question 3 of 5 1.54/2 E Gainon Disposal of Plant Assets (To record sale of equipment) Depreciation Expense Dec. 31 Accumulated Depreciation Equipment (To record depreciation) Accumulated Depreciation Equipment TOTAL INT Loss on Disposal of Plant Assets Equipment (To record sale of equipment) Textbook and Media Assistance Used Textbook Intl Account