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Fill in the boxes On Janiary 2, 2022, Sweet Pet purchased foxures for $25,600 cash, expecting the fixsures to temah in service for elght years.
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On Janiary 2, 2022, Sweet Pet purchased foxures for $25,600 cash, expecting the fixsures to temah in service for elght years. Sweet Pet has depreciated the fodures on a straight-ine basis, with $4,000 resibual value. On June 30, 2024, Sweet Pet sold the fixtures for $17.350 cash. Rocord both depreclaton expense for 2024 and sale of the focures on June 30 . 2024. (Assume the modifes hall-morth convention is used. Recond debils firt, then crodits Splect the explanason on the last ine of the joumal entry tablo.) Begin by recording the depreciation expense as of Jun. 30,2024 Step by Step Solution
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