Equipment with a residual value of $50,000 at the end of 10 years was acquired at the beginning of 2011 for $500,000. Assuming the use of the straight-line depreciation method, the journal entry to record depreciation expense for 2012 will have a debit to Depreciation Expense and a credit to Accumulated Depreciation for $45,000. Depreciation Expense and a credit to Equipment for $45,000. Accumulated Depreciation and a credit to Equipment for $50,000. Depreciation Expense and a credit to Accumulated Depreciation for $50,000