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This question: 11 point(s) possible On January 2,2021, Daeva Fumiture purchased display shelving...

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Accounting

This question: 11 point(s) possible
On January 2,2021, Daeva Fumiture purchased display shelving for $8,800 cash, expecting the shelving to remain in service for five years. Daeva depreciated the shelving on a double-declining-balance basis, with $1,300 estimated residual value. On September 30,2022, the company sold the shelving for $3,000 cash.
Read the requirement.
Start by recording depreciation expense on the shelving for 2022.(Record debits first, then credits. Exclude explanations from any journal entries.)
Journal Entry
\table[[Date,Accounts,Debit,Credit],[Sep 30,,,],[,,,],[,,,]]\end{array}]
Now record the sale of the shelving on September 30,2022.
Journal Entry
\table[[Date,Accounts,Debit,Credit],[Sep 30],[,,,],[,,,],[,,,]]
Requirements:
1. Record both the depreciation expense on the shelving for 2022 and its sales in september. Also show how to compute the gain and loss on the disposal of the shelving.
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