Exercise 11-12 Analyzing changes in asset account balances-straight- line (LO 11-3, LO 11-7) Weir Company (a fictional company) uses straight-line depreciation for its property, plant, and equipment, which, stated at cost, consisted of the following: Land Buildings Machinery and equipment December 31, 20X1 2oxo $ 25,000 $ 25,000 195,000 195,000 695,000 650,000 915,000 870,000 (400,000) (370,000) $ 515,000 $ 500,000 Less accumulated depreciation Weir's depreciation expenses for 20X1 and 20X0 were $55,000 and $50,000, respectively. Required: What amount was debited to accumulated depreciation during 20X1 because of property, plant, and equipment retirements? Debit amount to accumulated depreciation due to retirements