On March 31, 2021, Rodger Construction Co. bought a new concrete mixer. The mixer cost $74,000. The expected life is 10 years with a salvage value of $4,000 What is the journal entry for depreciation for the month of April assuming straight-line depreciation?

Debit: Depreciation Expense, $7,000; Credit: Accumulated Depreciation, $7,000 Debit: Accumulated Depreciation, $583.33; Credit: Depreciation expense, $583.33 Debit: Depreciation Expense, $583.33; Credit: Accumulated Depreciation, $583.33 Debit: Accumulated Depreciation, $7,000; Credit: Depreciation expense, $7,000