Financial Accounting: E10-22 On January 2, 2006, Ditto Clothing Consignments purchased showroom

Financial Accounting

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)
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