On January $2,2022,$ Pet Oasis purchased fixtures for $$19,500$ cash, expecting the fixtures to remain in service for five years. Pet Oasis has depreciated the fixtures on a straight$-$line basis, with $$6,000$ residual value. On July $31,2024,$ Pet Oasis sold the fixtures for $$6,525$ cash. Record both depreciation expense for $2024$ and sale of the fixtures on July $31,2024.($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.$)$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Jul$.31,$Depreciation Expense$-$Fixtures,$1575,],[$Accumulated Depreciation$-$Fixtures,,$1575],[,,],[,,],[$To record depreciation on fixtures.,,$]]$

Before recording the sale of the fixtures, let'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$)$

Now, record the sale of the fixtures on July $31,2024.$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[\backslash$table$[[$Juale$],[$Jul$.]]],[,,,],[,,,],[,,,$:$\text{'}$