Question: got the first part, need help with the blanks. On January 2: 2023, Couture Clothing Consignments purchased showroom fotures for 513,000 cash expecting the foxtures
On January 2: 2023, Couture Clothing Consignments purchased showroom fotures for 513,000 cash expecting the foxtures lo remain in sevice foe five years Couture has depreciated the foctures on a double declining balance basis, with zeco residual value On August 31,2074 . Couture sold the fotures for 57 , 000 cach. Record both dopreciation expense for 2024 and sale of the fittures on August 31, 2024 . (Record debits fist, then cregits Select the explanabon on the last line of the joumal oetry lable Note that 2023 depreclation was rocorded and posted in 2023 ) Before recorsing the sale of the fixtures, Mers calculate any gain or loss on the sale of the fotures
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