On

January

2,

2023,

Again

Clothing Consignments purchased showroom fixtures for

$16,000

cash, expecting the fixtures to remain in service for five years.

Again

has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On

August 31,

2024,

Again

sold the fixtures for

$8,000

cash. Record both depreciation expense for

2024

and sale of the fixtures on

August 31,

2024.

(Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that

2023

depreciation was recorded and posted in

2023.)

EF9-22 (similar to) Question Help On January 2, 2023, Again Clothing Consignments purchased showroom fixtures for $16,000 cash, expecting the fixtures to remain in service for five years. Again has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On August 31, 2024, Again sold the fixtures for $8,000 cash. Record both depreciation expense for 2024 and sale of the fixtures on August 31, 2024. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that 2023 depreciation was recorded and posted in 2023.) Begin by recording the depreciation expense for January 1, 2024 through August 31, 2024. Date Accounts and Explanation Debit Credit Aug. 31 Choose from any list or enter any number in the input fields and then click Check Answer. ? 2 parts remaining Clear All Check