Required information Paper Corporation owns 75 percent of Scissor Company's stock. On July 1, 20X8, Paper sold a building to Scissor for $33,000. Paper had purchased this building on January 1, 20X6, for $36,000. The building's original eight-year estimated total economic life remains unchanged. Both companies use straight-line depreciation. The building's residual value is considered negligible. ed on the information provided, in the preparation of the 20X9 consolidated income statement, depreciation expense will be: Multiple Choice credited for $750 the consolidating entries. debited for $750 in the consolidating entries. debited for $1,500 in the consolidating entries. credited for $1,500 in the consolidating entries