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how do you do this. how do you get the 1400 in the first part and how do you get the 6200 in the second
how do you do this. how do you get the 1400 in the first part and how do you get the 6200 in the second part?
Homework: Lesson 3 Assignments Save 5376 Score: 0 of 6 pts 6 of 9 (6 complete) HW Score: 46.67% , 23.33 of 5... E10-23 (similar to Question Help Cro On January 2, 2016, Pet Retreat purchased fixtures for $30,000 cash, expecting the foxtures to remain in service for ten years. Pet Retreat has depreciated the fixtures on a straight-line basis, with $6.000 residual value. On July 31, 2018, Pet Retreat sold the fixtures for $18.300 cash. Record both depreciation expense for 2018 and sale of the foxtures 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 joumal ontry table.) ts in Begin by recording the depreciation expense as of Jul. 31, 2018. ere WI Sei Date ther Accounts and Explanation Debit Credit om Depreciation Expense Fodures Jul 31 1,400 Accumulated Depreciation-Fixtures ive/ 1,400 gin Rec To record depreciation an fixtures etw Before recording the sale of the fxtures, let's calculate any gain or loss on the sale of the fixtures. (Enter aloss with a minus sign or parentheses. Market value of assets neceived 18 300 lar to) Less: Book value of asset disposed of hilar to $30 000 Cost (6200) 23.800 Less: Accumulated Depreciation Gain or (Loss) S6,500) Now, record the sale of the fixtures on July 31 2018. Date Accounts and Explanation Debit Credit Cash Jul. 31 18,300 Accumulated Depreclation-Fixures 6.200 Loss on Disposal ngren's 5,500 Fixtures 30,000 Sold fixtures for cash This question is complete. Move your oursor over or taolon he red arrows to see incorrect answers. All parts showing SimilarStep by Step Solution
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