A Corporation Purchased a $40,000 Delivery Truck by Paying $4,000

Multiple Choice

A corporation purchased a $40,000 delivery truck by paying $4,000 cash and signing a $36,000 note payable.Immediately prior to this transaction the corporation had assets,liabilities,and owners' equity in the amounts of $75,000,$52,000,and $23,000 respectively.What is the total amount of the corporation's assets after this transaction has been recorded?

A) $115,000
B) $111,000
C) $79,000
D) $71,000
E) $75,000