You make adjusting journal entries for the month of January as needed. (Start with Jour- nal no. 2.) You carefully consider the following: . Math Revealed! used the straight-line method to determine depreciation expense for all office equipment. o Monthly depreciation expense for the equipment purchased prior to 12/31 is $91.50. Computer $75; Printer $10; Calculators $6.50) Math Revealed! purchased S360 of furniture on 1/3. You expect the furniture to last 3 years, with no salvage value. You take a fuli month depreciation on furniture. Two computers ($756) and three calcuiators ($441) were also purchased on 1/3. You expect the computers to have a 3-year life (no salvage value) and the calculators to have a 3-year life ($90 salvage value). You take a full month depreciation on the equipment. On 1/30, shelving was installed. The cost of the shelving was $649. You expect the shelving to last for the term of the lease (24 months). You estimate the salvage value at $49 at the end of the two years. You started using the shelving on February 1. o o o January The insurance policy premium paid in January was $480. The policy term is 1/1-12/31/18. . You check to make sure that all the revenue recorded in January was earned during the month. . You realize that the amount paid by Teacher's College was for a workshop to be held in February. You also take a look at Invoice #1009 to Annie Wang. Half of the $300 billed on 1/17 was for February tutoring. TIP: Consider whether you need a new account here