On January 2,2017, Comfy Clothing Consignments ourchased showroom fixtures for $17,000 cash, expecting the fixtures to remain in service for five years. Comfy has depreciated the fixtures on the double-declining-balance basis, with zero residual value. On October 31,2018, Comfy sold the fixtures for $7,600 cash. Record both depreciation for 2018 and sale of the fixtures on October 31,2018.

3,400 Oct 31 Depreciation Expense-Fixtures Accumulated Depreciation Fixtures 3,400 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 Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) Enter any number in the edit fields and then click Check