Assume that on January 2, 2010, Maxwell of Michigan purchased fixtures for $8,800 cash, expecting the fixtures to remain in service for five years. Maxwell has depreciated the fixtures on a double-declining-balance basis, with $1,300 estimated residual value. On August 31, 2011, Maxwell sold the fixtures for $2,900 cash. Record both the depreciation expense on the fixtures for 2011 and the sale of the fixtures. Apart from your journal entry, also show how to compute the gain or loss on Maxwell disposal of these fixtures.