Crestfield leases office space. On January 3 , the company incurs $15,000 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? Debit Depletion Expense $7,500; credit Accumulated Depletion $7,500. Debit Depreciation Expense $3,750; credit Accumulated Depreciation $3,750. Debit Depletion Expense $15,000; credit Accumulated Depletion $15,000. Debit Amortization Expense $7,500; credit Accumulated Amortization-Leasehold Improvements $7,500. Debit Amortization Expense $3,750; credit Accumulated Amortization-Leasehold Improvements $3,750