I need answer ASAP! If a fixed asset, such as a computer, were purchased...
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Accounting
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If a fixed asset, such as a computer, were purchased on Danuary 1st for $2,453 with an estimated life of 6 years and a salvage or residual value of $187, the journal entry for monthly expense under straight-line depreciation is Oa. Depreciation Expense 31.47 Accumulated Depreciation 31.47 Ob. Accumulated Depreciation 377.67 Depreciation Expense 377.67 Oc. Accumulated Depreciation 31.47 Depreciation Expense 31.47 Od. Depreciation Expense 377.67 Accumulated Depreciation 377.67
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