Fluhman Medical Supply purchased machinery and equipment for $$75,000,$ paying cash of $$55,000,$ with the remainder due to their supplier in $30$ days. Which journal entry below properly records this transaction?

Select one:

a$.$ Debit property, plant and equipment $$75,000$; debit accounts payable $$20,000$ and credit cash $$55,000.$

b$.$ Debit machinery and equipment expense $$75,000$; credit cash $$55,000,$ and credit loans payable $$20,000.$

c$.$ Debit cash $$55,000$; debit prepaid expenses $$20,000$; credit property, plant and equipment $$75,000.$

d$.$ Debit property, plant & equipment $$75,000$; credit accounts payable $$20,000$ and credit cash $$55,000.$