Abacus Corporation purchased equipment costing $ 48,000. It paid $ 14,000 in cash and signed a note payable for $ 34,000 This transaction ________.

A. increased assets by $48,000 and liabilities by $34,000

B. increased assets and liabilities each by $34,000

C. increased assets and shareholders' equity each by $48,000

D. increased assets by $48,000, liabilites by $34,000 and shareholders' equity by $14,000