Assume that on January 2, 2019, a Pizza Hut franchise purchased fixtures for \(\$ 15.000\) cash. expecting the fixtures to remain in service five years. The restaurant has depreciated the fixtures on a double-diminishing-balance basis, with \(\$ 1,000\) estimated residual value. On June 30, 2020, Pizza Hut sold the fixtures for \(\$ 5,000\) cash.

{Requirements}

1. Record the sale of the fixtures 2. Management is thinking of switching to the straight-line method of depreciation. Do you agree? Why or why not?