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On January 2, 2023, Thrify Clothing Consignments purchased shawroom fixtures for $16,000 cash, expecting the fotures ta remain in service for five years. Thritly has
On January 2, 2023, Thrify Clothing Consignments purchased shawroom fixtures for $16,000 cash, expecting the fotures ta remain in service for five years. Thritly has depreciafed the fxtures on a dosble-declining-taiance basis, weth zero residual value. On Soplember 30, 2024, Thrity sold the fodures for $8,000 cash. Record both depreciation expense for 2024 and sale of the Extures on Septomber 30, 20e4. (Recond debis firt, then crecits. Select the explanation on the last fint of the journal entiry table. Note that 2023 depreciason was recorded and posted in 2023. )
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