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

Multiple Choice

The Pitter 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.