1 Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em Emphasis in Paragraph Styles 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 Depreciation Expense1,200 Accumulated Depreciation 1,200 Depreciation Expense 100 Accumulated Depreciation 100 Accumulated Depreciation1,200 Depreciation Expense1,200 Accumulated Depreciation 100 Depreciation Expense 100 (Cr)- NT