At year-end a school district purchases instructional equipment costing $100,000 by issuing a short-term note to be repaid from General Fund resources. This transaction should be reflected in the General Fund as

a. expenditures of $100,000 and a $100,000 liability.

b. expenditures of $100,000 and a $100,000 other financing source from the issuance of the note.

c. a capital asset of $100,000 and a liability of $100,000.

d. expenditures of $100,000 and revenues of $100,000 from issuance of the note.