Sophie's Bridal Shop Bought a Computer Worth $2,150 with an Expected

Multiple Choice

Sophie's Bridal Shop bought a computer worth $2,150 with an expected life of 3 years and a residual value of $500. What is the adjusting journal entry after the first year?

A) Computer 550 Depreciation Expense 550
B) Computer 550 Accumulated Depreciation, Computer 550
C) Depreciation Expense 550 Accumulated Depreciation, Computer 550
D) Depreciation Expense 550 Computer 550