My sister gave me her iphone 3gs because she got the iphone 4 but it won't go past apple logo tried restoring it via itunes but it can't it flashes a white screen then goes back to the apple logo and repeats. Yes it had water damage a long time ago

Why can't I just restore it under a new account or something liked that? What else can I try in order to restore it I have tried everything even under her itunes acct and all. Please help!
I don't know what operating system out has my computer first see it when itunes does.

Sounds like the iPhone is damaged beyond repair.
Out of Warranty replacement in the US is $199.

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