Homework: Chapter 10 Homework Save Score: 0.26 of 1 pt 3 of 7 (3 complete)> HW Score: 28.36%, 1.99 of 7 pts E10-23 (similar to) Question Help On January 2, 2014, Pet Spa purchased fixtures for $57,600 cash, expecting the fixtures to remain in service for nine years. Pet Spa has depreciated the fixtures on a straight-line basis, with $9,000 residual value. On June 30, 2016, Pet Spa sold the fixtures for $42,600 cash. Record both depreciation expense for 2016 and sale of the fixtures on June 30, 2016. (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.) Date Accounts and Explanation Debit Credit Jun. 30 Depreciation Expense Fixtures 2,700 Accumulated Depreciation-Fixtures 2,700 To record depreciation on fixtures. Before recording the sale of the fixtures, let's calculate any gain or loss on the sale of the fixtures. (Enter a loss with a minus sign or parentheses.) Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) Enter any number in the edit fields and then click Check Answer Clear All Final Check remaining