On January 2, 2016, Just for Pet purchased fixtures for $21,500 cash, expecting the fixtures to remain in service for five years

On January 2, 2016, Just for Pet purchased fixtures for $21,500 cash, expecting the fixtures to remain in service for five years. Just for Pet has depreciated the fixtures on a straight-line basis, with $2,000 residual value. On June 30, 2018, Just for Pet sold the fixtures for $6,250 cash. Record both depreciation expense for 2018 and sale of the fixtures on June 30, 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.) Begin by recording the depreciation expense as of Jun. 30, 2018. Date Accounts and Explanation Debit Credit Jun. 30