Ringstar Company Purchased a New Car for $60,000 by Paying

Multiple Choice

Ringstar Company purchased a new car for $60,000 by paying $24,000 cash, and trading in an old car with a recorded net cost and market value of $20,000. They also signed a Note for $16,000.
The required journal entry will not:

A) Debit New Car for $60,000
B) Debit Notes Payable for $16,000
C) Credit Old Car for $20,000
D) Credit Notes Payable for $16,000