If a fixed asset, such as a computer, were purchased on January 1st for $1,942.00 with an estimated life of 7 years and a salvage or residual value of $173.00, what is the journal entry for monthly expense under straight-line depreciation?

Select the correct answer.

Accumulated Depreciation$252.71

Depreciation Expense$252.71

Accumulated Depreciation$21.06

Depreciation Expense$21.06

Depreciation Expense$252.71

Accumulated Depreciation$252.71

Depreciation Expense$21.06

Accumulated Depreciation$21.06