On January 2, 2021, Vincent Fumiture purchased display sholving for $8.700 cash, expocting the shelving to remain in service for five years. Vincent depreclated the sheking on a double-declining-balance basis, with $2,000 estimated residual value. On August 31, 2022, the company sold the shelving for $2,700 cash. Read the requlrement. Start by recording depreciation expense on the shalving lor 2022. (Record debits first, then credits. Eyclude explanations tram any journal antrios.) Requirement 1. Record both the depreciation expense on the shelving for 2022 and its sale in August. Also show how to compute the gain or loss on the disposal of the shelving