4 of 7 points Points: 0.16 of 1 Save On January 2, 2016, Pet Haven purchased...

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4 of 7 points Points: 0.16 of 1 Save On January 2, 2016, Pet Haven purchased fixtures for $50,000 cash, expecting the fixtures to remain in service for ten years. Pet Haven has depreciated the futures on a straight the basis, with $2,000 residual value. On May 31, 2018, Pet Haven sold the fixtures for $32,400 cash. Record both depreciation expense for 2018 and sale of the fatures on May 31, 2018 (Assume the modified half-month convention is used. Record debits first, then credits. Select the explanation on the last line of the journal entry table) Begin by recording the depreciation expense as of May 31, 2018. Date May 31 Accounts and Explanation Debit Credit Help me solve this Demodocs example Get more help. Clear all Check ans 4 of 7 points Points: 0.16 of 1 Save On January 2, 2016, Pet Haven purchased fixtures for $50,000 cash, expecting the fixtures to remain in service for ten years. Pet Haven has depreciated the futures on a straight the basis, with $2,000 residual value. On May 31, 2018, Pet Haven sold the fixtures for $32,400 cash. Record both depreciation expense for 2018 and sale of the fatures on May 31, 2018 (Assume the modified half-month convention is used. Record debits first, then credits. Select the explanation on the last line of the journal entry table) Begin by recording the depreciation expense as of May 31, 2018. Date May 31 Accounts and Explanation Debit Credit Help me solve this Demodocs example Get more help. Clear all Check ans