Show Attempt History Current Attempt in Progress Your answer is partially correct. Monty Company purchased a computer system for $78,800 on January 1, 2019. It was depreciated based on a 8-year life and an $16,800 salvage value. On January 1, 2021, Monty revised these estimates to a total useful life of 4 years and a salvage value of $10,200. Monty uses straight-line depreciation Prepare Monty's entry to record 2021 depreciation expense. (Credit account titles are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation-Equipment e Textbook and Media List of Accounts Save for Later Attempts: 2 of 6 used Submit