On January 2, 2016. Royal Pet purchased foxtures for $29,600 cash, expecting the futures to remain in service for eight years. Royal Pet has depreciated the foxtures on a straight-line basis, with $8,000 residual value. On August 31, 2018, Royal Pet sold the fixtures for $15.900 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 Accounts and Explanation Aug. 31 Debit Credit