Section 179 vs Accum. Depreiciation

On my 2004 tax return (1120-A): I purchased computer equipment for $3500. I elected section 179 for the full amount of $3500.

Now, I'm not sure how to enter this amount on my books. Do I use 5-year straight-line ($700), or do I use the full amount of $3500

The reason I ask is because on the following year of 2005 on my 1120-A (Part III, Line 9b - Balance Sheet per Books), I need to know which amount should I enter on line 9b (Beginning of tax year)? Should I enter $700 or the do I enter the $3500 amount I elected (section 179) from the prior year?

Thanks for any help regarding my question.

Jabs

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Jabs
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