Assume that on January 1, 2016, Maxwell Co. purchased fixtures for $8,500. On the date of purchase, the company had estimated a service life of five years, with a $1,600 estimated residual value. On October 31, 2017, the company sold the fixtures for $2,700 Assume that the company uses the DDB depreciation method. Record the sale of the fixtures on October 31, 2017 Journal Entry Date Accounts Debit Credit Oct 31 On May 31, 2015, a company sold a storage shed. The company had purchased the shed on January 1, 2008 for $342,000. When purchased, it had been estimated to have a useful life of 20 years and a residual value of $78,000. Assume that the company has been using the straight-line method and sold the asset for $266,000 Calculate the gain or loss on disposal of the asset. The on the disposal of the asset is$