You are given the following information of unadjusted trail balance as of 31 December 2020:

Equipment at 31 December: Debit balance $34,800

Accumulated Depreciation-Equipment: Credit balance $1,600

Depreciation Expense-Equipment: 0

Data needed for the adjusting entry: Depreciation expense on equipment, $300

Journalise its adjusting entries at 31 December 2020

A

Debit Depreciation Expense-Equipment $300; Credit Equipment $300

B

Debit Equipment $300; Credit Accumulated Depreciation-Equipment $300

C

Debit Accumulated Depreciation-Equipment $300; Credit Depreciation Expense-Equipment $300

D

Debit Depreciation Expense-Equipment $300; Credit Accumulated Depreciation-Equipment $300