If a fixed asset, such as a computer, were purchased on January 1st for $2,396.00 with an estimated life of 5 years and a salvage or residual value of $211.00, what is the journal entry for monthly expense under straight-line depreciation?

Select the correct answer.

Depreciation Expense$36.42

Accumulated Depreciation$36.42

Accumulated Depreciation$36.42

Depreciation Expense$36.42

Accumulated Depreciation$437.00

Depreciation Expense$437.00

Depreciation Expense$437.00

Accumulated Depreciation$437.00