On January 2, 2015, Snug Clothing Consignments purchased showroom fixtures for $19,000 cash, expecting the fixtures to remain in service for five years. Snug has depreciated the fixtures on a double-declining balance basis with zero residual value. On September 30, 2016, Snug sold the futures for $8,000 cash. Record both depreciation expense for 2016 and sale of the fixtures on September 30, 2016. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table. Check your spelling carefully and do not abbreviate.) Begin by recording the depreciation expense for 2016. Date Accounts and Explanation Debit Credit Sep. 30 Before recording the sale of the foxtures, let's calculate any gain or loss on the sale of the fixtures. Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss)