| 20f 10 (0 complete) Question Help On January 2, 2015, Favorite Clothing Consignments purchased showroom fixtures for $10,000 cash, expecting the fixtures to remain in service for five years. Favorite has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2016, Favorite sold the fixtures for $5,000 cash. Record both depreciation expense for 2016 and sale of the fixtures on September 30, 2016. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by recording the depreciation expense for 2016. Date Accounts and Explanation Debit Credit Sep. 30 Before recording the sale of the fixtures, let's calculate any gain or loss on the sale of the fixtures Market value of assets received Less: Book value of asset disposed of Cost Choose from any list or enter any number in the input fields and then ? continue to the next