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 to be paid back in five years and used all of the money to purchase land for a new store.Sweet Smell's balance sheet would show this as:

A) $60,000 under Land and $60,000 under Notes Payable (long-term) .
B) $60,000 under Depreciation Expense and $60,000 under Notes Payable (long-term) .
C) $60,000 under Land and $60,000 under Notes Receivable (long-term) .
D) $60,000 under Other Assets and $60,000 under Other Liabilities.