On March 15, Complete Computer Service purchased a $25,000 building in exchange for a notes payable. The journal entry to record this transaction would be:
1) Date Accounts Debit Credit Building 25,000 Notes Payable 25,000
2) Date Accounts Debit Credit Notes Payable 25,000 Building 25,000
3) Date Accounts Debit Credit Cash 25,000 Building 25,000
4) Date Accounts Debit Credit Building 25,000 Cash 25,000