Eckan Word Processing Service uses the straight-line method of depreciation. The company's fiscal year end is December 31. The following transactions and events occurred during the first year. 2022 Jan 1 Purchased a computer from the Computer Center for $2,500 cash Dec. 31 value of $500. Instructions Recorded 2022 depreciation on the basis of a four year life and estimated salvage Prepare the necessary entries for Jan 1 and Dec 31. (Show calculations.)

Eckan Word Processing Service uses the straight-line method of depreciation. The company's fiscal year end is December 31 . The following transactions and events occurred during the first year. 2022 Jan 1 Purchased a computer from the Computer Center for $2.500 cash Dec. 31 Recorded 2022 depreciation on the basis of a four year life and estimated salvage value of $500. Instructions Prepare the necessary entries for Jan 1 and Dec 31. (Show calculations.) Eckan Word Processing Service uses the straight-line method of depreciation. The company's fiscal year end is December 31 . The following transactions and events occurred during the first year. 2022 Jan 1 Purchased a computer from the Computer Center for $2.500 cash Dec. 31 Recorded 2022 depreciation on the basis of a four year life and estimated salvage value of $500. Instructions Prepare the necessary entries for Jan 1 and Dec 31. (Show calculations.)