Spector Limited purchased a computer on January $1,$ Year $1,$ for $$10,980.$ The computer had no residual value and a useful life of three $(3)$ years. On September $1,$ Year $3,$ Spector sold the computer for $$1,500$ cash. Spector uses straight$-$line depreciation and had a December $31$ year end.

Create a chart which shows the depreciation expense, accumulated depreciation, and book value $($also called carrying value$)$ for Year $1,$ Year $2,$ and Year $3.$ Record the depreciation expense for December $31,$ Year $1,$ December $31,$ Year $2,$ and all the necessary entries for Year $3,$

including the sale of the computer, in the chart on the next page.$\backslash$