Which of the following transactions resulted in a $35,000 increase in assets and a $35,000 increase in liabilities?

a. Collected accounts receivable of $35,000.

b. Paid accounts payable of $35,000.

c. Purchased land for $50,000, paying $15,000 in cash as a down payment and signing a note payable for the balance.

d. Purchased on account, and used, $35,000 worth of office supplies during the period.

e. Reclassified a $35,000 account receivable as a note receivable when the customer failed to pay on time.