Falwell Enterprises purchased equipment for $$2,500.$ Falwell paid $$400$ in cash and signed a note for the balance. If Falwell debited the Equipment account and credited Cash, what else needs to be done to complete the journal entry?

Select answer from the options below

Credit another asset account for $$400.$

Debit the Retained Earnings account for $$2,100.$

Nothing.

Credit a liability account for $$2,100.$