Richards Corporation Purchased Some Equipment by Issuing a $20, 000 $\begin{array}{llr} \text { Future amount of 1 } &1.360\\ \text { Present value of 1} &0.735\\\end{array}$

Richards Corporation purchased some equipment by issuing a $20, 000 non-interest-bearing, four-year note when interest rates were 8%.Actuarial information for 8% and four periods follows: $\begin{array}{llr} \text { Future amount of 1 } &1.360\\ \text { Present value of 1} &0.735\\\end{array}$
In the entry to record this purchase, there would be a

A) $20, 000 debit to Equipment
B) $5, 299.40 credit to Discount on Notes Payable
C) $27, 209.78 credit to Notes Payable
D) $14, 700.60 debit to Equipment