Meat Puppets Company purchased a computer for $4,800 on December 1. It is estima

Question

Meat Puppets Company purchased a computer for $4,800 on December 1. It is estimated that annual depreciation on the computer will be $1,200. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:



Debit Depreciation Expense, $100; Credit Accumulated Depreciation, $100.



Debit Depreciation Expense, $3,600; Credit Accumulated Depreciation, $3,600.



Debit Depreciation Expense, $1,200; Credit Accumulated Depreciation, $1,200.



Debit Office Equipment, $4,800; Credit Accumulated Depreciation, $4,800.

Explanation / Answer

A.

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