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On January 2, 2016, Sweet Pet purchasod fixtures for $33,100 cash, expecting the Sxtures to remain in service for seven years. Sweet Pet has depreclated
On January 2, 2016, Sweet Pet purchasod fixtures for $33,100 cash, expecting the Sxtures to remain in service for seven years. Sweet Pet has depreclated the foutures on a straight-line basis, with $10,000 residual value. On June 30,2018,5 weet Pet sold the fxtures for $18,350 cash. Record both depreciation oxpense for 2018 and sale of the fixtures on June 30,2018 (Assume the modified hall-month comention is used. Fecord debits firat, then credits. Select the explanition on the last line of the jourmal entry table.) Begin by recording the depreciation empense as of Jun. 30, 2018. Before recording the sale of the fixlures, let's calculale any gain or loss on the sale of the fixtures. (Enter a loss with a aifius sign or parentheses) Now, tocotd the sale of the fixtures on Aune 30,2018 . On January 2, 2016, Sweet Pet purchased fixtures for $33,100 cash, expecting the fixtures to remain in service for seven years. Sweet Pet has depreciath $10,000 residual value. On June 30, 2018, Sweet Pet sold the fixtures for $18,350 cash. Rocord both depreciation expense for 2018 and sale of the fixturi nodified half-month convention is used. Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Before recording the sale of the fixtures, le'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 fotures on June 30,2018
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