Question 3: Rhodes National purchased software on October 1, 2017 for 18,000. The company expects to use the software for 3 years. It has no residual value. 1. What adjusting journal entry should the company make at the end of each month if monthly financials are prepared? (annual depreciation is 6,000) 2. What balance will be reported on the December 31, 2017 statement of financial position for Accumulated Depreciation