On January 2, 2014, Pet Salon purchased fixtures for $48,200 cash, expecting the fixtures to remain in service for nine years. Pet Salon has depreciated the fixtures on a straight-line basis, with $5,000 residual value. On May 31, 2016, Pet Salon sold the fixtures for $30,600 cash. Record both depreciation expense for 2016 and sale of the fixtures on May 31, 2016.