Jeff Anderer Enterprises purchased computer equipment on May 1, 2010 for $4,500. The company expects to use the equipment for 3 years. It has no salvage value.
1. What adjusting journal entry should the company make at the end of each month if monthly financials are prepared (annual depreciation is $1,500)?
2. What is the book value of the equipment at May 31, 2010?

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The Answer of Jeff Anderer Enterprises purchased computer equipment on May 1, 2010 for $4,500. The company expects to use the equipment for 3 years. It has no salvage value.
1. What adjusting journal entry should the company make at the end of each month if monthly financials are prepared (annual depreciation is $1,500)?
2. What is the book value of the equipment at May 31, 2010?

Jeff Anderer Enterprises Purchased Computer Equipment on May 1, 2010