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E10-23 Recording partial year depreciation and sale of an asset On January 2, 2012, Pet...

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E10-23 Recording partial year depreciation and sale of an asset On January 2, 2012, Pet Oasis purchased equipment for $20,000 cash, expecting the fixtures to remain in service for six years. Pet Oasis has depreciated the fixtures on a straight-line basis, with $2,000 residual value. On April 30, 2014, Pet Oasis sold the fixtures for $8,000 cash. Record both depreciation expense for 2014 and sale of the equipment on April 30, 2014

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