Suppose You Borrow $1,000 to Purchase a Car $- \$ 1,000$

Suppose you borrow $1,000 to purchase a car. Which of the following correctly represents the changes in your personal balance sheet after the bank lends the money, but before you spend it?

A) Assets: loan, +$1,000; Liabilities and net worth: checking deposit, +$1,000
B) Assets: loan, $- \$ 1,000$ , checking deposit, +$1,000; Liabilities and net worth: no change
C) Assets: loan, +$1,000, checking deposit, $- \$ 1,000$ ; Liabilities and net worth: no change
D) Assets: checking deposit, +$1,000; Liabilities and net worth: loan, +$1,000
E) Assets: checking deposit, +$1,000; Liabilities and net worth: loan, $- \$ 1,000$