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On January 2, 2017, Thrifty Clothing Consignments purchased showroom fixtures for $10,000 cash, expecting the foxtures to remain in service for five years. Thrifty

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On January 2, 2017, Thrifty Clothing Consignments purchased showroom fixtures for $10,000 cash, expecting the foxtures to remain in service for five years. Thrifty has depreciated the fodures on a double-declining-balance basis, with zero residual value. On October 31, 2018, Thrifty sold the fixtures for $5,000 cash. Record both depreciation expense for 2018 and sale of the fixtures on October 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that 2017 depreciation was recorded and posted in 2017.) Begin by recording the depreciation expense for January 1, 2018 through October 31, 2018. Date Oct. 31 Accounts and Explanation Debit Credit

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