Monte Ray leases office space for $7,000per month.On January3,Monte Ray incurs$7,5000 to improve his leased office space.These improvements are expected to yield benefits for 8 years. Ray has 6 years remaining on his lease.What journal entry would be needed to record the expense for the first year related to the impovements?
（a.）Debit Amortization Expense$12,500；credit Accumulated Amortization $12,500.
（b.）Debit Depletion Expense$12,500；credit Accumulated Depletion $12,500.
（c.）Debit Depreciation Expense $12,500；credit Accumulated Depreciation $12,500.
（d.）Debit Depletion Expense $9,375；credit Accumulated Depreciation $9,375.
（e.）Debit Amortization Expense$9,375；credit Accumulated Amortization $9,375.