Entity M purchased a new copier on January 1, 2024 for $5,000. The company expects the copier to last two years and uses straight-line depreciation. The copier has no salvage value. The entry to record depreciation expense on December 31, 2024 will include: O a credit to Depreciation Expense Equipment for $2,500 a debit to Equipment Expense for $2,500 a credit to Accumulated Depreciation, Equipment for $2,500 a credit to Equipment for $2,500. Entity O signed a seven month note payable in the amount of $50,000 on October 1. The note requires interest at an annual rate of 10%. The amount of interest expense Entity O must recognize at December 31 is: $833 O $2,917 $5,000 $1,250