If a Fixed Asset, Such as a Computer, Were Purchased $\begin{array} { l l l } \text { Depreciation Expense } & 100 \\\text { Accumulated Depreciation } & & 100\end{array}$

Multiple Choice

If a fixed asset, such as a computer, were purchased on January 1 for $3,750 with an estimated life of 3 years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is

A)
$\begin{array} { l l l } \text { Depreciation Expense } & 100 \\\text { Accumulated Depreciation } & & 100\end{array}$

B)
$\begin{array} { l l l } \text { Depreciation Expense }& 1,200 \\\text { Accumulated Depreciation }& 1,200\end{array}$
C)
Accumulated Depreciation $\quad 1,200$
Depreciation Expense $\quad 1,200$
D)
$\begin{array}{lll}\text { Accumulated Depreciation }& 100 \\\text { Depreciation Expense }& 100\end{array}$