A Manufacturing Company Purchased Equipment Five Years Ago on January

A manufacturing company purchased equipment five years ago on January 1 for $450,000.As of January 1 of the current year,depreciation of $202,500 had been recorded on this asset.Depreciation expense for the current year is $22,500.After the adjustments are recorded and posted at December 31 of the current year,what are the balances for the equipment and for accumulated depreciation?

A) equipment: $225,000; accumulated depreciation: $22,500
B) equipment: $225,000; accumulated depreciation: $225,000
C) equipment: $450,000; accumulated depreciation: $0
D) equipment: $450,000; accumulated depreciation: $225,000