On January $2,2022,$ King Pet purchased fixtures for $$43,000$ cash, expecting the fixtures to remain in service for seven years. King Pet has depreciated the

fixtures on a straight$-$line basis, with $$1,000$ residual value. On June $30,2024,$ King Pet sold the fixtures for $$27,000$ cash. Record both depreciation expense for

$2024$ and sale of the fixtures on June $30,2024.($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.$)$

Begin by recording the depreciation expense as of Jun. $30,2024.$