Question: On January 2 , 2 0 2 4 , Favorite Clothing Consignments purchased showroom fixtures for $ 1 4 , 0 0 0 cash, expecting

On January 2,2024, Favorite Clothing Consignments purchased showroom fixtures for $14,000 cash, expecting the fixtures to remain in service for five years. Favorite Clothing Consignments has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On August 31,2025, Favorite Clothing Consignments sold the fixtures for $6,500 cash. Record both depreciation expense for 2025 and sale of the fixtures on August 31,2025.(Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that 2024 depreciation was recorded and posted in 2024.)
Begin by recording the depreciation expense for January 1,2025 through August 31,2025
On January 2 , 2 0 2 4 , Favorite Clothing

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