E9-23 (open response) Question Help On January 2, 2016, Just for Pet purchased fixtures for $49,000 cash, expecting the fixtures to remain in service for seven years. Just for Pet has depreciated the fixtures on a straight-line basis, with $7,000 residual value. On July 31, 2018, Just for Pet sold the fixtures for $31,000 cash. Record both depreciation expense for 2018 and sale of the fixtures on July 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. Check your spelling carefully and do not abbreviate.) Begin by recording the depreciation expense as of Jul. 31, 2018. Date Accounts and Explanation Debit Credit Jul. 31 DEPRECIATION EXPENSE 15500 ACCUMULATED DEPRECIATION 15500 To record depreciation on fixtures. Choose from any list or enter any number in the input fields and then click Check Answer parts remaining Clear All Check