A Business Purchased a Building by Paying Part of the Purchase

Multiple Choice

A business purchased a building by paying part of the purchase price in cash as a down payment and signing a mortgage note for the remainder.The business should:

A) debit the mortgage note payable for the amount of the mortgage.
B) debit the building account for the amount of the mortgage.
C) debit cash for the amount paid on the down payment.
D) credit the mortgage note payable for the amount of the mortgage.