Aashish Company had a transaction that caused a $40,000 decrease in both assets and liabilities. This transaction could have been a(n):

Select one:

A. Purchase of office equipment for $54,000, paying $14,000 cash and issuing a note payable for the balance

B. Investment of $40,000 cash in the business by the stockholders

C. Purchase of office equipment for $40,000 cash

D. Repayment of a $40,000 bank loan