Teddy Bob purchased computer equipment costing $3,450 on 1 August with a 3 year useful life and a salvage value of $350. Give the needed end of the year adjustment.

Group of answer choices

31 Dec Dr Computer Expense, Cr Cash $ 430.55

1 Aug Dr Computer Equipment, Cr cash $3,450

Dec 31 Dr Depr Exp Computer equip, Cr Accum Depr. Computer equip. $430.55

Dec 31 Dr Accum Deprec. Computer equip., Cr Deprec. Exp Computer equip

No adjustment is needed until next year