1. Potter Ltd. has buildings that were acquired on 30th June 2021 at a price of 240,000. TH accounting year-end for Potter Ltd. is on 31st December. The estimated useful life for the non-curren assets is 10 years with 0 estimated residual value. The company uses the straight-line depreciation method. Regarding the depreciation journal entry that the company needs to record on 31st December 2021, which of the following statements is true? a) Potter Ltd. needs to record a depreciation expense (credit) of 12,000 and an accumulated depreciation (debit) of 12,000. b) Potter Ltd. needs to record a depreciation expense (debit) of 24,000 and an accumulated depreciation (credit) of 24,000. c) Potter Ltd. needs to record a depreciation expense (debit) of 12,000 and an accumulated depreciation (credit) of 12,000. d) The company does not need to record this transaction