On January 2, 2023, Couture Clothing Consignments purchased showroom fixtures for $18,000 cash, expecting the fixtures to remain in service for five years. Couture has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On October 31, 2024, Couture sold the fixtures for $8,000 cash. Record both depreciation expense for 2024 and sale of the fixtures on October 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.) Debit Begin by recording the depreciation expense for January 1, 2024 through October 31, 2024. Date Accounts and Explanation Oct. 31 Depreciation Expense-Fixtures Accumulated Depreciation-Fixtures Credit 3,600 3,600 To record depreciation on fixtures. Before recording the sale of the fixtures, let's calculate any gain or loss on the sale of the fixtures. Market value of assets received 8000 Less: Book value of asset disposed of Cost 18000 Less: Accumulated Depreciation Gain or (Loss)