J. B. Consulting purchased a machine for $6,000 on August 1, 20X1. The company expects the useful life of the machine to be 5 years and no salvage value is expected. If the company uses the straight-line method to depreciate the machine, what will be the depreciation adjustment for the year ending December 31, 20X1? Multiple Choice Debit Depreciation Expense $400 and Credit Accumulated Depreciation $400. Debit Accumulated Depreciation $400 and Credit Depreciation Expense $400, Debit Depreciation Expense $500 and Credit Accumulated Depreciation $500. Debit Accumulated Depreciation $500 and Credit Depreciation Expense $500