Vargas Company purchased a computer for $6,400 on January 1, 2016. The computer is estimated...
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Accounting
| Vargas Company purchased a computer for $6,400 on January 1, 2016. The computer is estimated to have a 5-year useful life and a $2,200 salvage value. What adjusting entry would Vargas record on December 31, 2016 to recognize expense related to use of the computer?
a |
| Accumulated depreciation | 840 | |
| Depreciation expense | 840 |
b
| Depreciation expense | 840 | |
| Accumulated depreciation | 840 |
c
| Depreciation expense | 840 | |
| Computer | 840 |
d
| Depreciation expense | 1,280 | |
| Accumulated depreciation | 1,280 |
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