Financial Accounting: E10-22 On January 2, 2006, Ditto Clothing Consignments purchased showroom
E10-22 On January 2, 2006, Ditto Clothing Consignments purchased showroom fixtures for $10,000 cash, expecting the fixtures to remain in service 5 years. Ditto has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2007, Ditto sold the fixtures for $6,200 cash.
Record both depreciation for 2007 and sale of the fixtures on September 30, 2007. (p. 523)