On

January

2,

2014,

Just for Pet

purchased fixtures for

$36,500

cash, expecting the fixtures to remain in service for

five

years.

Just for Pet

has depreciated the fixtures on a straight-line basis, with

$5,000

residual value. On

July

31,

2016,

Just for Pet

sold the fixtures for

$16,725

cash. Record both depreciation expense for

2016

and sale of the fixtures on

July

31,

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.)