Crestfield leases office space. On January 3, the company incurs $38,000 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 Debit Depreciation Expense $7,600; credit Accumulated Depreciation $7,600. Debit Depletion Expense \$19,000; credit Accumulated Depletion $19,000. Debit Amortization Expense-Leasehold Improvements \$19,000; credit Accumulated Amortization-Leasehold Improvements $19,000. Debit Depletion Expense $38,000; credit Accumulated Depletion $38,000. Debit Amortization Expense-Leasehold Improvements $7,600; credit Accumulated Amortization-Leasehold Improvements $7,600