Application Technologies has acquired equipment costing $15,000. The company paid $5,000 and gave a 10-month note for the balance. The bookkeeper should:

A. debit Equipment for $15,000, credit Cash for $5,000, and credit Notes Receivable for $10,000.

B. debit Cash for $5,000, debit Notes Receivable for $10,000, and credit Equipment for $15,000.

C. debit Equipment for $15,000, credit Cash for $5,000, and credit Notes Payable for $10,000.

D. debit Cash for $5,000, debit Notes Payable for $10,000, and credit Equipment for $15,000.

E. debit Equipment for $15,000, debit Cash for $5,000, credit Notes Payable for $10,000, and credit Paid-in Capital for $5,000.