Tina's Event Planning Bought a Computer Worth $3,500 with an Expected

Multiple Choice

Tina's Event Planning bought a computer worth $3,500 with an expected life of 5 years and a residual value of $750.What is the adjusting journal entry after the first year?

A)
$$\begin{array} { | c | l | } \hline \text { Computer } & 550 \\\hline \text { Depreciation Expense } & 550 \\\hline\end{array}$$
B) $$\begin{array} { | c | l | } \hline \text { Computer } & 550 \\\hline \text { Accumulated Depreciation, Computer } & 550 \\\hline\end{array}$$
C) $$\begin{array} { | c | l | } \hline \text { Depreciation Expense } & 550 \\\hline \text { Accumulated Depreciation, Computer } & 550 \\\hline\end{array}$$
D)
$$\begin{array} { | c | l | } \hline \text {Depreciation Expense} & 550 \\\hline \text { Computer} & 550 \\\hline\end{array}$$