A business acquired equipment for $75,000 on January 1, 2015. The equipment will be depreciated over five years of its useful life using the straight-line depreciation method. The business records depreciation once a year on December 31 . Which of the following is the adjusting entry required to record depreciation on equipment for the year 2015 ? (Assume the salvage value of the acquired equipment to be zero.) Select one: a. Debit $30,000 to Accumulated Depreciation and credit $30,000 to Depreciation expense b. Debit $15,000 to Depreciation Expense and credit $15,000 to Accumulated Depreciation. c. Debit $75,000 to Depreciation Expense and credit $75,000 to Accumulated Depreciation. d. Debit $75,000,000 to Equipment and credit $75,000 to Cash