Sub : Time : Date : Sheridan uses the diminishing - balance method at one times the straight- line depreciation rate . Sheridan Limited purchased delivery equipment on march 1, 2019, for $933, 750 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $10, 940. The equipment was disposed of $ on November 30, 20 201 sheridan uses the diminishing- balance method at one times the straight-line depreciation rate, has an August 31 year end, and makes adjusting entries annually. (a) Record the acquisition of equipment on march 1, 2019