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once again clothing ANSWER MUST BE IN BELOW FORMAT PLEASE On January 2, 2017, Once Again Clothing Consignments purchased showroom fixtures for $14,000 cash, expecting

once again clothing ANSWER MUST BE IN BELOW FORMAT PLEASE image text in transcribed

On January 2, 2017, Once Again Clothing Consignments purchased showroom fixtures for $14,000 cash, expecting the fixtures to remain in service for five years. Once Again has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On October 31, 2018, Once Again sold the fixtures for $6,500 cash. Record both depreciation expense for 2018 and sale of the fixtures on October 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that 2017 depreciation was recorded and posted in 2017.) Begin by recording the depreciation expense for January 1, 2018 through October 31, 2018. Date Accounts and Explanation Debit Credit Oct. 31

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