Question Help On January 1, 2025, a corporation acquired equipment for $110,000. Residual value was estimated to be $35,000. The equipment can be used 75,000 machine hours or a useful life of four years. Actual usage of the equipment was recorded as 9,000 hours for the first year. What is the journal entry for depreciation expense for the first year calculated by the straight line method? 18,750 O A. Accumulated Depreciation - Equipment Depreciation Expense - Equipment 18,750 27,500 B. Depreciation Expense - Equipment Accumulated Depreciation - Equipment 27,500 18,750 C. Depreciation Expense Equipment Accumulated Depreciation - Equipment 18,750 27,500 O D. Accumulated Depreciation - Equipment Depreciation Expense - Equipment 27,500