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How would the event be recorded

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Problem 1: Toy Company bought a new motor vehicle worth $50,000. They paid $15,000 down and took out a loan from TD Bank for the balance. How would the event be recorded?

Option 1: None of the others alternatives are correct

Option 2: Dr. Capital assets (truck) $50,000, Cr Cash $5,000, Cr. Bank loan $45,000

Option 3: Dr. Bank loan $35,000, Dr. Capital assets (truck) $50,000 Cr. Cash $15,000 Cr. Bank Loans Payable $70,000

Option 4: Dr. Capital assets (truck) $35,000, Cr. Cash $15,000, Cr. Bank loan $35,000

Option 5: Dr. Cash $15,000, Dr. Bank loan $35,000, Cr. Capital asset (truck) $50,000

Reference no: EM132671833

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