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

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

A) depreciation expense: $5,000; accumulated depreciation: $45,000
B) depreciation expense: $5,000; accumulated depreciation: $50,000
C) depreciation expense: $45,000; accumulated depreciation: $45,000
D) depreciation expense: $45,000; accumulated depreciation: $50,000