A Business Purchases Equipment by Paying $9,087 in Cash and Issuing

Multiple Choice

A business purchases equipment by paying $9,087 in cash and issuing a note payable of $13,264.Which of the following occurs?

A) Cash is credited for $9,087,Equipment is credited for $22,351,and Notes Payable is debited for $13,264.
B) Cash is credited for $9,087,Equipment is debited for $22,351,and Notes Payable is credited for $13,264.
C) Cash is debited for $9,087,Equipment is debited for $13,264,and Notes Payable is credited for $22,351.
D) Cash is debited for $9,087,Equipment is credited for $13,264,and Notes Payable is debited for $4,177.