Application Technologies Has Acquired Equipment Costing $15,000

Multiple Choice

Application Technologies has acquired equipment costing $15,000.The company paid $5,000 and gave a 10-month note for the balance.The bookkeeper should

A) debit Equipment for $15,000,credit Cash for $5,000,and credit Notes Receivable for $10,000.
B) debit Cash for $5,000,debit Notes Receivable for $10,000,and credit Equipment for $15,000.
C) debit Equipment for $15,000,credit Cash for $5,000,and credit Notes Payable for $10,000.
D) debit Cash for $5,000,debit Notes Payable for $10,000,and credit Equipment for $15,000.
E) debit Equipment for $15,000,debit Cash for $5,000,credit Notes Payable for $10,000,and credit Paid-in Capital for $5,000.