Crestfield leases office space. On January 3, the company incurs $37,000 to improve the leased office space. These improvements are expected to yield benefits for 5 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? Multiple Choice O Debit Amortization Expense $7,400; credit Accumulated Amortization-Leasehold improvements $7400 Debit Depletion Expense $18.500 credit Accumulated Depletion $18.500 O Debit Depreciation Expense $7400;credit Accumulated Depreciation $7400 O c) Debit Depletion Expense $37000; credit Accumulated Depletion $37000 O C ) Debit Amortization Expense $18,500: credit Accumulated Amortization-Leasehold improvements $18,500 O