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  3. a business purchases equipment by paying $6,000 in

A business purchases equipment by paying $6,000 in cash and issuing a note payable of...

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Accounting

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A business purchases equipment by paying $6,000 in cash and issuing a note payable of $15,500. Which of the following occurs? O A. Cash is debited for $6,000, Equipment is debited for $15,500, and Notes Payable is credited for $21,500 OB, Cash is credited for $6,000, Equipment is dobited for $21,500, and Notes Payable is credited for $15,500 OC. Cash is credited for $6,000, Equipment is credited for $21.500, and Notes Payable is debited for $15,500 OD. Cash is debited for $6,000, Equipment is credited for $15.500, and Notes Payable is debited for $9,500

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