On January 2, 2016, King Pet purchased fixtures for $52,400 cash, expecting the fixtures to remain in service for eight years. King Pet has depreciated the fixtures on a straight-line basis, with $2,000 residual value. On June 30, 2018, King Pet sold the fixtures for $32,650 cash. Record both depreciation expense for 2018 and sale of the fixtures on June 30, 2018. (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, 2018 Debit Accounts and Explanation Date Credit Jun 30