A company purchased a new car for $10,000 by trading in an old car which had a recorded net cost and value of $2,000. They also paid cash of $3,000, and signed a note for the remaining balance. The journal entry to record this transaction will NOT include:

A) Debit Equipment $10,000
B) Credit Equipment $2,000
C) Credit Cash $3,000
D) Credit Accounts Payable $5,000
E) Debit Accounts Payable $5,000

Ans: E) Debit Accounts Payable $5,000