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Record both depreciation expense and sale of fixtures

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Question - On January 2, 2016, King Pet purchased fixtures for $69,000 cash, expecting the fixtures to remain in service for ten years. King Pet has depreciated the fixtures on a straight-line basis, with $3,000 residual value. On May 31, 2018, King Pet sold the fixtures for $46,550 cash. Record both depreciation expense for 2018 and sale of the fixtures on May 31, 2018.

Reference no: EM132618518

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