If a fixed asset, such as a computer, were purchased on January 1st for $2,408.00 with an estimated life of 4 years and a salvage or residual value of $237.00, what is the journal entry for monthly expense under straight-line depreciation?

If a fixed asset, such as a computer, were purchased on January 1st for $2,408.00 with an estimated life of 4 years and a salvage or residual value of $237.00, what is the journal entry for monthly expense under straight-line depreciation? Select the correct answer. $542.75 $542.75 $45.23 $45.23 Accumulated Depreciation Depreciation Expense Depreciation Expense Accumulated Depreciation Accumulated Depreciation Depreciation Expense Depreciation Expense Accumulated Depreciation $45.23 $45.23 $542.75 $542.75