Question Content Area

If a fixed asset, such as a computer, were purchased on January 1 for $1,617 with an estimated life of 7 years and a salvage or residual value of $160, the journal entry for monthly expense under straight-line depreciation is

a.

Account	Debit	Credit
Accumulated Depreciation	208.14
Depreciation Expense		208.14

b.

Account	Debit	Credit
Depreciation Expense	208.14
Accumulated Depreciation		208.14

c.

Account	Debit	Credit
Accumulated Depreciation	17.35
Depreciation Expense		17.35

d.

Account	Debit	Credit
Depreciation Expense	17.35
Accumulated Depreciation		17.35