(a)

January 1, 2006

ABC Company purchased a network computer system (#46) for $375,000. Delivery charge and installation fee totaled $35,000. The company plans to use this computer for 6 years and will have a salvage/ trade-in value of $95,000. The company signed a note for this entire purchase. Please journalize entry.

(b)

December 31, 2006

Please journalize straight-line depreciation on computer #46.

(c)

December 31, 2007

Please journalize straight-line depreciation on computer #46.