On January ?2, 2016?, Sweet Pet purchased fixtures for $ 36,400 ?cash, expecting the fixtures to rem

On January ​2, 2016​, Sweet Pet purchased fixtures for $ 36,400 ​cash, expecting the fixtures to remain in service for eight years. Sweet Pet has depreciated the fixtures on a​ straight-line basis, with $ 10,000 residual value. On August 31​, 2018​, Sweet Pet sold the fixtures for $ 21,600 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 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.)

-Begin by recording the depreciation expense as of Aug. 31, 2018.

-Before recording the sale of the​ fixtures, let's calculate any gain or loss on the sale of the fixtures. ​(Enter a loss with a minus sign or​ parentheses.)

-now record the sale of the fixtures on Aug. 31, 2018

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