Wedonia Steel prepares the annual adjusting entry at year-end, December 31, 2014. Equipment costing $102,000 was purchased on January 1, 2014. Its estimated useful life is 5 years. To record depreciation on the equipment, what would be the correct adjusting entry?

A) Dr. Depreciation Expense $1,700 / Cr. Accumulated Depreciation $1,700

B) Dr. Depreciation Expense $20,400 / Cr. Cash $20,400

C) Dr. Depreciation Expense $1,700 / Cr. Cash $1,700

D) Dr. Depreciation Expense $20,400 / Cr. Accumulated Depreciation $20,400