Roberts Corporation purchased some equipment by issuing a $20,000 non-interest-bearing, four-year note when interest rates were 8%. Actuarial information for 8% and four periods follows: Future amount of 1 1.360 Present value of 1 0.735 In the entry to record this purchase, there would be a
A) $20,000 debit to Equipment.
B) $5,300.00 credit to Discount on Notes Payable.
C) $27,210.88 credit to Notes Payable.
D) $14,700.00 debit to Equipment.
D
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