Cakes Company purchased a machine for $76,000 on November 1, 20X1. Also associated with this purchase on November 1, 20x1 were $1,200 in sales taxes and $13,000 in machine preparation, shipping and Installation costs. Cakes Company paid a total of $10,000 cash and signed a note payable agreeing to pay the remainder in the future. The machine has an estimated useful life of 9 years and an estimated salvage value of $2.000, Cakes Company uses the straight line method for computing depreciation expense Which ONE of the following is included in the journal entry necessary on December 31, 20x1 to record depreciation expense on the machine for 20X1 (the hrst year) O A CREDIT to Accumulated Depreciation for $9.000 O A CREDIT to Accumulated Depreciation for $1.611 O A CREDIT to Accumulated Depreciation for $1.370 O ACREDIT to Accumulated Depreciation for $1.633