A Tool Company Purchased Equipment at a Cost of $100,000

A tool company purchased equipment at a cost of $100,000 in January, 2004. As of January 1, 2013, depreciation of $45,000 had been recorded on this asset. Depreciation expense for 2013 is $5,000. After the adjustments are recorded and posted at December 31, 2013, what are the balances for the Depreciation Expense and Accumulated Depreciation? Depreciation Expense Accumulated Depreciation

A) $ 5,000 $50,000
B) $45,000 $45,000
C) $ 5,000 $45,000
D) $45,000 $50,000