Kathy purchased new furniture for $$10,000.$ She put $$1,000$ down and financed $$9,000.$ She will pay $$350$ per month

until the loan is paid off. Which of the following are true?

The furniture should be recorded as an asset of $$10,000$ on Kathy's balance sheet.

The $$9,000$ is entered as a liability on Kathy's balance sheet.

The furniture should be recorded as a $$1,000$ expenditure on Kathy's balance sheet.

The $$350$ payments are expenditures on Kathy's income and expenditure statement.

All are correct except c