If a fixed asset, such as a computer, were purchased on January 1 for $2,360 with an estimated life of 5 years and a salvage or residual value of $109, the journal entry for monthly expense under straight-line depreciation is Oa Accumulated Depreciation Depreciation Expense Ob. Depreciation Expense Accumulated Depreciation Oc Accumulated Depreciation Depreciation Expense Od. Depreciation Expense Accumulated Depreciation 450.20 450.20 37.52 37.52 37.52 37.52 450.20 450.20