If a fixed asset, such as a computer, were purchased on January 1st for $1,845...
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Accounting
If a fixed asset, such as a computer, were purchased on January 1st for $1,845 with an estimated life of 5 years and a saluage or residual value of $166, the Journal entry for monthly expense under straight-line depreciation is 7. Accumulated Depreciation 27.98 Depreciation Expense 27.98 b. Accumulated Depreciation 335.80 Depreciation Expense 335.80
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