Selected plant and equipment asset balances on December 31, 2013 for Southgate Inc. are as follows:

Total estimated useful life on the furniture is 5 years with a residual value of $3,000; depreciated using the double-declining balance method to the nearest whole month.

The furniture was sold on September 6, 2014 for cash of $16,240.

Prepare journal entries for the following :

Depreciation of the furniture for 2014.

The sale of the furniture on September 6.

Ensure accuracy in your calculations by rounding only your final answer (to the nearest whole dollar).

Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan).

For simplicity, assume the assets are depreciated as individual items and will not be broken into parts and depreciated.

Selected plant and equipment asset balines on December 31, 2013 for Soumano tre, momsfoto Fur 385.000 Accumulated Depreciation Furniture 67.000 Totes enterated that 160 on the turniture of years with a tenktuot val of $3,000, apreciated thing the coutin-tectining barco muhod to the newest who month The furniture was sold on 6, for cash of 18.240 Prepare journal entries for the following a Depreciation of the furniture for 2014 b. The sale of the furniture on September Ensure accuracy in your calculations by rounding on your final answer to the nearest whole dolar) Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format mm. January 16 would be tani For simplicity, assume the assets are depreciated as individualioms and will not be broken into parts and depreciated Page 2 Explanation Feste Genero Da