Question 15 (3 points) Use the following information for items 13, 14 and 15. ASU Company plant asset book value is $700,000 (cost $1,000,000 less accumulated depreciation of $300,000). What journal entry should be recorded for the following expenditures? The roof was removed and replaced with a more modern roof at a cost of $75,000. Book value of the old roof was $30,000. Debit: Accumulated Depreciation, 75,000; Credit: Cash, 75,000 Debit: Plant Asset (new), 75,000; Accumulated Depreciation (old), 30,000; Credit: Plant Asset (old), 30,000; Cash, 75,000 Debit: Plant Asset. 75,000; Credit: Cash, 75,000 Debit: Repairs Expense, 75,000; Credit: Cash, 75,000