Choose the correct answer and briefly explain the reasoning. Thanks!

7. On July 1, 2011, Goode Company borrowed S100,000 The company signed a note payable with interest at 6percent per year. The note and interest are due on December 31, 2011. On December 31. 2011, Goode paid $403,000 to setle the debt in full. Assuming no accruals for interest have been made during the year, transaction analysis of the $103,000 cash payment on December 31, 2011 should reflect which of the following? -A. A decrease in assets of $103,000 and a decrease in liabilities of $103,000. B.A decrease in assets of $100,000, a decrease in stockholders' equity of $3,000, and a decrease in liabilities of $103,000. C. A decrease in stockholders' equity of $100,000, a decrease in liabilities of S3,000, and a-decrease in assets of $103,000. D.A decrease in liabilities of $100,000, a decrease in stockholders' equity of $3,000 and a decrease in assets of $103,000