Help with a same as cash purchase

[Donna Pfeifer]

I have a small, one person business and am doing my own bookkeeping. I've never done any DE work but I think I have the gist of it.

I purchased a new high end computer for my business on a 18 months same as cash basis. I made no down payment as it was all placed on a new credit card opened for that specific purpose. I am making payments of $200 a month.

What is the proper way to enter this?

It also needs to be depreciated. I am working on figuring that out. It looks like, for the U.S.A., it would be a 5 year depreciation using MACRS/GDS.

Thanks in advance!

Donna