On January 1, Detroit Gold Exchange paid cash of $78,800 for computers that are expected to remain useful for four years. At the end of four years, the value of the computers is expected to be zero Read the wirements Requirement 1. Calculate the amount of depreciation for the month of January using the straight-line depreciation method. Bogin by selecting the labels, than enter the amounts and compute the amount of depreciation for the month of January (Abbreviation used. Acc Depreciation Accumulated Depreciation Enter a "U" for any zero balances) Cost Residual Value ) Useful Life | 12 months - Straight-line depreciation 12 months -X Requirements the a con ion = Accumula 17 ) 1. Calculate the amount of depreciation for the month of January using the straight-line depreciation method. 2. Record the adjusting entry for depreciation on January 31. 3. Post the purchase of January 1 and the depreciation on January 31 to T-accounts for the following accounts: Computer Equipment, Accumulated DepreciationComputer Equipment, and Depreciation Expense-Computer Equipment. Show their balances at January 31. 4. What is the computer equipment's book value at January 31? Print Done Check