The Sweet Smell of Success Fragrance Company Borrowed $60,000 from the Bank

The Sweet Smell of Success Fragrance Company borrowed $60,000 from the bank and used all of the money to redesign its new store.Sweet Smell's balance sheet would show this as:

A) $60,000 under Furnishings and Equipment and $60,000 under Notes Payable.
B) $60,000 under Supplies and $60,000 under Notes Payable.
C) $60,000 under Furnishings and Equipment and $60,000 under Accounts Payable.
D) $60,000 under Other Assets and $60,000 under Other Liabilities.