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Crestfield leases office space on January 3, the company incurs $23,000 to improve the leased office space. These improvements are expected to yield benefits for

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Crestfield leases office space on January 3, the company incurs $23,000 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 Debit Amortization Expense $2,300 credit Accumulated Amortization Leasehold Improvements $2.300 Debt Depletion Experte $4,600; credit Accumulated Depletion $4.600 Debt Depreciation Expense $2,300: credit Accumulated Depreciation $2.300 Debit Amortization Expense $2,300, credit Accumulated Amortization Leasehold Improvements $2,300. Debit Depletion Expense $4,600, credit Accumulated Depletion $4,600. Debit Depreciation Expense $2,300, credit Accumulated Depreciation $2,300 Debit Depletion Expense $23,000 credit Accumulated Depletion $23,000 O Debit Amortization Expense $4,600, credit Accumulated Amortization-Leasehold Improvements $4,600

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