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If a fixed asset, such as a computer, were purchased on January 1 for $1,598 with an estimated life of 4 years and a salvage
If a fixed asset, such as a computer, were purchased on January 1 for $1,598 with an estimated life of 4 years and a salvage or residual value of $184, the journal entry for monthly expense under straight-line depreciation is
a. Depreciation Expense 29.46 Accumulated Depreciation 29.46
b. Accumulated Depreciation 353.50 Depreciation Expense 353.50
c. Accumulated Depreciation 29.46 Depreciation Expense 29.46
d. Depreciation Expense 353.50 Accumulated Depreciation 353.50
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