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On January 2 , 2 0 1 7 , Family Clothing Consignments purchased showroom fixtures for $ 1 2 , 0 0 0 cash, expecting
On January Family Clothing Consignments purchased showroom fixtures for $ cash, expecting the fixtures to remain in service for five years. Family has depreciated the fixtures on a doubledecliningbalance basis, with zero residual value. On September Family sold the fixtures for $ cash. Record both depreciation expense for and sale of the fixtures on September Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that depreciation was recorded and posted in
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