Question 1. Potter Ltd. has buildings that were acquired on 3 0 th June 2021 at a price of 240 , 000 . T accounting year-end for Potter Ltd. is on 3 1 st December. The estimated useful life for the non-curre assets is 10 years with 0 estimated residual value. The company uses the straight-line depreciation method. Regarding the depreciation journal entry that the company needs to record on 3 1 st December 2021, which of the following statements is true? a) Potter Ltd. needs to record a depreciation expense (credit) of 12 , 000 and an accumulated depreciation (debit) of 12 , 000 . b) Potter Ltd. needs to record a depreciation expense (debit) of 24 , 000 and an accumulated depreciation (credit) of 24 , 000 . c) Potter Ltd. needs to record a depreciation expense (debit) of 12 , 000 and an accumulated depreciation (credit) of 12 , 000 . d) The company does not need to record this transaction