Question
On JanuaryJanuary?2,20152015?,Once AgainOnceAgainClothing Consignments purchased showroom fixtures for$10,000?cash, expecting the fixtures to remain in service for five years.Once AgainOnceAgainhas depreciated the fixtures on a? double-declining-balance basis, with zero residual value. OnAugust 31 commaAugust31,20162016?,Once AgainOnceAgainsold the fixtures for$ 5 comma 500$5,500cash. Record both depreciation expense for20162016and sale of the fixtures onAugust 31August31?,20162016.