On January 2, 2021, Sonoma - Maine Furniture purchased display sheling for 58,700 cash, expecting the shelving to remain in service for five years. Sonoma - Maine depreciated the shelving on a double-declining-balanco basis, with $1,500 estimatod residual value, On October 31,2022 , the company sold the shelving for $2,500 cash. Read the reauinement. Start by recording depreciation expense on the sheling for 2022. (Record debts frnt, then crodts. Exdlude explanations from any ioumal antries.) Now rocord the sale of the ahelvig on Octebor 91,2022 Requirement 1. Record both the depreciation expense on the shelving for 2022 and its sale in October. Also show how to compute the gain or loss on the disposal of the shelving