E10-9 On January 2, 20X6, Amy's Party Supplies purchased showroom fixtures for $10,000 cash, expecting...
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E10-9 On January 2, 20X6, Amy's Party Supplies purchased showroom fixtures for $10,000 cash, expecting the fixtures to remain in service five years. Amy's has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 20X7, Amy's sold the fixtures for $5,000 cash. Record both the depreciation expense on the fixtures for 20X7 and the sale of the fixtures on September 30, 20X7
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