How would you account for this transaction?

Hellman just opened his own company. His son is going away to college and he purchased him a TV for his dorm room that cost 7,550. The TV should last 5 years. Hellman should be able to sell the TV used at the end of the 5 years for $1,000. The TV is for personal use, but he uses the company account to write a check so that it is treated as a business expense.