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Recording the depreciation expense as of may

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Question - On January 2, 2016 Pet Haven purchased fixtures for $28,600 cash, expecting the fixtures to remain in service for six years. Pet Haven has depreciated the fixtures on a straight-line basis, with $7,000 residual value. On May 31, 2018, Pet Haven sold the fixtures for $17,400 cash. Record both depreciation expense for 2018 and sale of the fixtures on May 31, 2018. (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.)

Required - Recording the depreciation expense as of May 31, 2018.

Reference no: EM132432879

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