Question Content Area

If a fixed asset, such as a computer, were purchased on January 1st for $1,999 with an estimated life of 5 years and a salvage or residual value of $135, the journal entry for monthly expense under straight-line depreciation is

a.

Accumulated Depreciation		31.07
Depreciation Expense			31.07

b.

Depreciation Expense		372.80
Accumulated Depreciation			372.80

c.

Accumulated Depreciation		372.80
Depreciation Expense			372.80

d.

Depreciation Expense		31.07
Accumulated Depreciation			31.07