On January 2, 2022, Pet Retreat purchased fixtures for $50,200 cash, expecting the fixtures to remain in service for eight years. Pet Retreat has depreciated the fixtures on a straight-line basis, with $7,000 residual value. On July 31, 2024, Pet Retreat sold the fixtures for $33,250 cash. Record both depreciation expense for 2024 and sale of the fixtures on July 31, 2024. (Assume the modified half-month convention is used. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by recording the depreciation expense as of Jul. 31, 2024. Date Accounts and Explanation Debit Credit Jul. 31 Choose from any list or enter any number in the input fields and then click Check Answer. ? 2 parts remaining Clear All Check