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 10 years. Crestfield has 5 years remaining on its lease. What journal entry would be needed to record the expense for the first year related to the improvements? Multiple Choice Multiple Choice Debit Amortization Expense-Leasehold Improvements \$1,500; credit Accumulated Amortization-Leasehold Improvements \$1,500. Debit Depletion Expense \$3,000; credit Accumulated Depletion \$3,000. Debit Depreciation Expense \$1,500; credit Accumulated Depreciation \$1,500. Debit Depletion Expense \$15,000; credit Accumulated Depletion \$15,000. Debit Amortization Expense-Leasehold Improvements \$3,000; credit Accumulated Amortization-Leasehold Improvements \$3,000