If a fixed asset, such as a computer, were purchased on January 1st for $1,956.00 with an estimated life of 5 years and a salvage or residual value of $102.00, what is the journal entry for monthly expense under straight-line depreciation?

Select the correct answer.

a) Accumulated Depreciation$370.80

Depreciation Expense$370.80

b) Depreciation Expense$30.90

Accumulated Depreciation$30.90

c) Depreciation Expense$370.80

Accumulated Depreciation$370.80

d) Accumulated Depreciation$30.90

Depreciation Expense$30.90