On August 1, Detroit Gold Exchange paid cash of $57,800 for computers that are expected to remain useful for three years. At the end of three years, the value of the computers is expected to be zero Read the requirements Requirement 1. Calculate the amount of depreciation for the month of August using the straight-line depreciation method. Begin by selecting the labels, than enter the amounts and compute the amount of depreciation for the month of August. (Abbreviation used, Aoc. Depreciation = Accumulated Depreciation. Enter a "O" for any zero balances.) 12 months = Straight-line depreciation a he tel Requirements 1. Calculate the amount of depreciation for the month of August using the straight-line depreciation method. 2. Record the adjusting entry for depreciation on August 31. 3. Post the purchase of August 1 and the depreciation on August 31 to T-accounts for the following accounts: Computer Equipment, Accumulated Depreciation-Computer Equipment, and Depreciation Expense-Computer Equipment Show their balances at August 31. 4. What is the computer equipment's book value at August 31? Print Done a he tel Requirements 1. Calculate the amount of depreciation for the month of August using the straight-line depreciation method. 2. Record the adjusting entry for depreciation on August 31. 3. Post the purchase of August 1 and the depreciation on August 31 to T-accounts for the following accounts: Computer Equipment, Accumulated Depreciation-Computer Equipment, and Depreciation Expense-Computer Equipment Show their balances at August 31. 4. What is the computer equipment's book value at August 31? Print Done