ain Take On July 1, American Gold Exchange paid cash of $57,600 for computers that are expected to remain useful for four years. At the end of four years, the value of the computers is expected to be zero Read the requirements Requirement 1. Calculate the amount of depreciation for the month of July using the straight-line depreciation method. Begin by selecting the labels, than enter the amounts and compute the amount of depreciation for the month of July. (Abbreviation used; Acc. Depreciation - Accumulated Depreciation. Enter a "O" for any zero balances.) 12 months - Straight-line depreciation 112 months Requirement 2. Record the adjusting entry for depreciation on July 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Jul 31 Requirement 3. Post the purchase of July 1 and the depreciation on July 31 to T-accounts for the following accounts: Computer Equipment, Accumulated Depreciation Computer Equipment, and Depreciation Expense-Computer Equipment Show their balances at July 31 (Use dates as posting references to post the tras "Ralstinn reference in show the endine haren nach Choose from any list or enter any number in the input fields and then continue to the next question, helbreciation for the month July using the straight-line depreciation method ner a i Requirements X used; sting the last 1. Calculate the amount of depreciation for the month of July using the straight-line depreciation method. 2. Record the adjusting entry for depreciation on July 31. 3. Post the purchase of July 1 and the depreciation on July 31 to T-accounts for the following accounts: Computer Equipment, Accumulated Depreciation-Computer Equipment, and Depreciation Expense Computer Equipment. Show their balances at July 31. 4. What is the computer equipment's book value at July 31? Print Done chase of July 1 and the depreciation on July 31 to T-accounts for the following accounts: Computer Equipment, A ipment, and Depreciation Expense -Computer Fouinment Show their balance Bab 21