If a Fixed Asset, Such as a Computer, Were Purchased $\quad$

Multiple Choice

If a fixed asset, such as a computer, were purchased on January 1st 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:
(Note: EOM indicates the last day of each month.)

A) EOM Depreciation Expense $\quad$ 100
Accumulated Depreciation $\quad$ 100

B) EOM Depreciation Expense $\quad 1,200$
Accumulated Depreciation $\quad$ 1,200

C) EOM Accumulated Depreciation $\quad$ 1,200
Depreciation Expense $\quad$ 1,200

D) EOM Accumulated Depreciation $\quad$ 100
Depreciation Expense $\quad$ 100