On January 2, 2016, Pet Salon purchased fixtures for $45,200 cash, expecting the fixtures to remain in service for nine years. Pet Salon has depreciated the fixtures on a straight-line basis, with $2,000 residual value. On August 31, 2018, Pet Salon sold the fixtures for $31,400 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31, 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 Aug. 31, 2018. Date Debit Credit Aug. 31 Accounts and Explanation Depreciation Expense-Fixtures Accumulated Depreciation Fixtures To record depreciation on fixtures