Try another version of this question On January 1, Plattsburgh Warehouse paid cash of $14,400 for computers that are expected to remain useful for four years. At the end of 4 years, the value of the computers is expected to be zero. A. Calculate the amount of depreciation for the month of January using the straight-line depreciation method. Yearly Depreciation = (Cost - Residual Value)/(Time) Yearly Depreciation = / = per year One-Months Depreciation = (Yearly Depreciation)/(12) One-Months Depreciation = /12 = per month. B. Record the adjusting entry for depreciation on January 31. C. Post the purchase of January 1 and the depreciation on January 1 to T accounts for the following accounts: Computer Equipment, Accumulated Depreciation—Computer Equipment, and Depreciation Expense—Computer Equipment. Show their balances at January 31. D. What is the computer equipment’s book value on January 31? Cost LESS Accumulated Depreciation - = Date Description Debit Credit January 31 January 31 Debit Credit Double line Double line Debit Credit Double line Double line Debit Credit Double line Double line Date Description Debit Credit January 31 Depreciation Expense--Computer Equipment 300 January 31 Accumulated Depreciation--Computer Equipment 300 Debit Credit 14,400 Double line14,400 Double line Debit Credit 300 Double line Double line300 Debit Credit 300 Double line300 Double line