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On January 2, 2016, Top Lighting purchased showroom fixtures for $12,000 cash, expecting the fixtures to remain in service for 10 years. Top Lighting has

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On January 2, 2016, Top Lighting purchased showroom fixtures for $12,000 cash, expecting the fixtures to remain in service for 10 years. Top Lighting has depreciated the fixtures on a straight-line basis, with zero residual value. Or August 31, 2017, Top Lighting sold the fixtures for $5,000 cash. Record both the depreciation expense on the fixtures for 2017 and the sale of the fixtures on August 31, 2017. Round intermediate calculations to the nearest cent and final answers to the nearest whole dollar. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the depreciation expense for 2017. Journal Entry Date Accounts Debit Credit Depreciation expense, fixtures Accumulated depreciation, fixtures Aug 31 Record the sale of the fixtures. Journal Entry Date Accounts Debit Credit Cash Accumulated depreciation, fixtures Fixtures Gain on sale of fixtures Aug 31 12000 Choose from any list or enter any number in the input fields and then continue to the next

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