In the unadjusted trial balance of its worksheet for the year ended December 31, 2014, Knox Company reported Equipment of $120,000. The year-end adjusting entries require an adjustment of $15,000 for depreciation expense for the equipment. After adjustment, the following adjusted amount should be reported:
(a) a debit of $105,000 for Equipment in the balance sheet column.
(b) a credit of $15,000 for Depreciation Expense— Equipment in the income statement column.
(c) a debit of $120,000 for Equipment in the balance sheet column.
(d) a debit of $15,000 for Accumulated Depreciation— Equipment in the balance sheet column.