The Sayonara Corporation Purchased a Notebook Computer for $3,000 on December

Multiple Choice

The Sayonara Corporation purchased a notebook computer for $3,000 on December 1.The useful life of the notebook computer is estimated to be 5 years.If financial statements are to be prepared on December 31, the company should make the following adjusting entry:

A) debit Depreciation Expense, $600; credit Accumulated Depreciation, $600.
B) debit Depreciation Expense, $50; credit Accumulated Depreciation, $50.
C) debit Depreciation Expense, $2,400; credit Accumulated Depreciation, $2,400.
D) debit Office Equipment, $50; credit Accumulated Depreciation, $50.