modified halli$-$month convention is used. Record debits first, then credits. Select the explanation on the last line of the joumal entry table.$)$

Begin by recording the depreciation expense as of Jul. $31,2024.$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Jul$.31,\backslash$table$[[$Depreciation Expense$-$Foxtures$],[$Accumulated Depreciation$-$Foxtures$]],1,400,],[8,$To record depreciation on fixtures.,,$]]$

Before recording the sale of the fixtures, ler's calculate any gain or loss on the sale of the fixtures. $($Enter a loss with a minus sign or parentheses.$)$

Market value of assets received

Less: Book value of asset disposed of

Cost

Less: Accumulated Depreciation

Gain or $($Loss$)$

$ $14,600$

$$23,800$