X E9-23 (open response) Question Help On January 2, 2016, Pet Haven purchased fixtures for $41,500 cash, expecting the fixtures to remain in service for five years. Pet Haven has depreciated the fixtures on a straight-line basis, with $10,000 residual value. On May 31, 2018, Pet Haven sold the fixtures for $24.775 cash. Record both depreciation expense for 2018 and sale of the fixtures on May 31, 2018. (Assume the modified half-month convention is used. Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate.) Begin by recording the depreciation expense as of May 31, 2018. Date Credit Accounts and Explanation Depreciation Expense Accumulated Depreciation Debit 6300 May 31 6300 To record depreciation on fixtures