Leslie Started a Computer Software Firm by Investing $16 000

Multiple Choice

Leslie started a computer software firm by investing $16 000 of her own money. She spent three-quarters of it on furniture, fixtures and operating supplies for the business. After borrowing $12 000 from First National Bank, she spent one-third of the funds on computer hardware. At that point in time what balances should be recorded in her accounting system for total assets and total expenses? Total Assets Total Expenses

A) $28 000$16 000
B) $12 000$16 000
C) $16 000 $0
D) $28 000 $0