Assume that on January 2, 20X4, Insurors of Pennsylvania purchased fixtures for $8,700 cash, expecting the fixtures to remain in service 5 years. Insurors has depreciated the fixtures on a double-declining-balance basis, with $1,000 estimated residual value. On September 30, 20X5, Insurors sold the fixtures for $2,500 cash. Record both the depreciation expense on the fixtures for 20X5 and then the sale of the fixtures. Apart from your journal entry, also show how to compute the gain or loss on Insurors' disposal of these fixtures.