Question: On January 2 , 2 0 2 2 , King Pet purchased fixtures for $ 4 3 , 0 0 0 cash, expecting the fixtures

On January 2,2022, King Pet purchased fixtures for $43,000 cash, expecting the fixtures to remain in service for seven years. King Pet has depreciated the
fixtures on a straight-line basis, with $1,000 residual value. On June 30,2024, King Pet sold the fixtures for $27,000 cash. Record both depreciation expense for
2024 and sale of the fixtures on June 30,2024.(Assume the modified half-month convention is used. Record debits first, then credits. Select the explanation on
the last line of the journal entry table.)
Begin by recording the depreciation expense as of Jun. 30,2024.
On January 2,2022, King Pet purchased fixtures for $43,000 cash, expecting

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