A Company Purchases an Asset on a Deferred Payment Plan,ultimately

Multiple Choice

A company purchases an asset on a deferred payment plan,ultimately paying $15,000.On the payment date,the company would

A) credit Cash for less than $15,000.
B) debit Interest Expense for the imputed amount.
C) debit the asset account for $15,000.
D) debit Accounts Payable for $15,000.