The first audit of the books of Escanaba Company was made for the year ended December 31, 2015. In examining the books, the auditor found this error: At the beginning of 2013, the company purchased a machine for $510,000 (salvage value of $60,000) that had a useful life of 6 years. The bookkeeper used straight-line depreciation, but erroneously used a useful life of 8 years in computing the depreciation. Depreciation has been recorded through 2015. The Correcting Journal entry to 12/31/15 Accumulated Depreciation is: $225,000 credit $225,000 debit $56,250 credit $56,250 debit $79,000 credit