60 Crestfield leases office space for $4,000 per month. On January 3, the company incurs $28,000 to improve the leased office space. These improvements are expected to yield benefits for 4 years. Crestfield has 2 years remaining on its lease. What journal entry would be needed to record the expense for the first year related to the improvements? Skipped Multiple Choice Debit Depletion Expense $14,000; credit Accumulated Depletion $14,000. 0 O Debit Depletion Expense $28,000; credit Accumulated Depletion $28,000. 0 Debit Amortization Expense $7,000; credit Accumulated Amortization $7,000. 0 Debit Amortization Expense $14,000; credit Accumulated Amortization $14,000. 0 Debit Depreciation Expense $7,000; credit Accumulated Depreciation $7,000