On January 1, 2025, a company acquired equipment for $140,000. Residual value was estimated to be $25,000. The equipment can be used 75,000 machine hours or a useful life of four years. Actual usage of the equipment was recorded as 12,000 hours for the first year. What is the journal entry for depreciation expense for the first year calculated by the double-declining - balance method? OA. Accumulated Depreciation - Equipment 70,000 Depreciation Expense - Equipment 70,000 OB. Depreciation Expense Equipment 18,360 Accumulated Depreciation Equipment 18,360 OC. Accumulated Depreciation - Equipment 18,360 Depreciation Expense - Equipment 18,360 OD. Depreciation Expense - Equipment 70,000 Accumulated Depreciation Equipment 70,000