Try another version of this question On January 1, Plattsburgh Warehouse paid cash of $12,240 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 255 January 31 Accumulated Depreciation--Computer Equipment 255 Debit Credit 12,240 Double line12,240 Double line Debit Credit 255 Double line Double line255 Debit Credit 255 Double line255 Double line