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On January 2, 2018, Sparkle Lighting purchased showroorn fixtures for $21,000 cash, expecting the fixtures to remain in service for 7 years. Sparkle Lighting has
On January 2, 2018, Sparkle Lighting purchased showroorn fixtures for $21,000 cash, expecting the fixtures to remain in service for 7 years. Sparkle Lighting has depreciated the fixtures on a straight-line basis, with zero residual value. On October 31, 2019, Sparkle Lighting sold the fixtures for $6,500 cash. Record both the depreciation expense on the fixtures for 2019 and the sale of the fixtures on October 31, 2019. 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 2019, Journal Entry Accounts Date Debit Credit Oct 31 Record the sale of the fixtures. Journal Entry Accounts Date Debit Credit Oct 31
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