Bear Essentials borrowed $50,000 from Stacks Bank and signed a promissory note. What entry should Stacks Bank record?
A. Debit Cash, $50,000; Credit Notes Payable, $50,000.
B. Debit Notes Payable, $50,000; Credit Cash, $50,000.
C. Debit Cash, $50,000; Credit Notes Receivable, $50,000.
D. Debit Notes Receivable, $50,000; Credit Cash, $50,000.
Answer: D
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