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Record both Depreciation expense for 2024 and sale of the fixtures on Sept. 30, 2024 On January 2, 2023, Ditto Clothing Consignments purchased showroom fixtures
Record both Depreciation expense for 2024 and sale of the fixtures on Sept. 30, 2024
On January 2, 2023, Ditto Clothing Consignments purchased showroom fixtures for $11,000 cash, expecting the fixtures to remain in service for five years. Ditto has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2024, Ditto sold the fixtures for $5,000 cash Record Don tepreciation extiene for 2024 and sale of the fixtures an Sentember 30, 2024. (Record debits first, then credits Select the explanation on the last ine 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 September 30, 2024 Date Accounts and Explanation Debit Sop 30 Credit
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