On January 2, 2018, McKnight Furniture purchased display shelving for $8,800 cash, expecting the sholving to remain in service for five years. Mcknight depreciated the shelving on a doublo declining-balance basis, with $1,200 estimated residual value. On August 31, 2018, the company sold the shelving for $2,600 cash. Read the requirement. Start by recording depreciation expense on the shelving for 2019. (Record debits first, the credits. Exclude explanations from any joumal entries.) Journal Entry Date Accounts Debit Credit Aug 31 Show how to compute the pain or loss on the disposal of the shelving (Use a minus sign or parentheses for a 10.) Gain (Los) on sale Now record the sale of the shelving on August 31, 2019 Journal Entry Date Accounts Aug 31 Dobit Credit Choose from any list or enter any number in the input fields and then continue to the next question On January 2, 2018, McKnight Furniture purchased display shelving for $8,800 cash, expecting the shelving to remain in service for five ye: the shelving on a double-declining-balance basis, with $1,200 estimated residual value. On August 31, 2019, the company sold the shelving Read the D * Requirement AU 1. Record both the depreciation expense on the shelving for 2019 and its sale in August . Also show how to compute the gain or loss on the disposal of the shelving Show na es for a loss.) Print Done Now record the sale of the shelving on August 31, 2019. Journal Entry Date Accounts Aug 31 Debit Credit Choose from any list or enter any number in the input fields and then continue to the next