Laura's Investment in a New Partnership Includes $1,000 Cash and $5,000

Multiple Choice

Laura's investment in a new partnership includes $1,000 cash and $5,000 equipment.The new partnership is assuming $500 of Laura's accounts payable.The partnership entry should be to:

A) debit Laura,Capital $5,500; debit Accounts Payable $500; credit Cash $1,000; credit Equipment $5,000.
B) debit Cash $1,000; debit Equipment $5,000; credit Laura Capital,$6,000.
C) debit Cash $1,000; debit Equipment $5,000; credit Accounts Payable $500; credit Laura,Capital,$5,500.
D) debit Laura,Investment $5,500; credit Capital $5,500.