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.) Begin by recording the depreciation expense for 2016. 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.) Now, record the sale of the fixtures on July 31,2016