1. On October 31, 2005, Sol Company, the wholly owned subsidiary of Pan Corporation, borrowed $50,000 from Pan on a 90-day, 8% promissory note. On November 30, 2005, Pan discounted the note at Western National Bank at a 10% discount rate. In Pan’s journal entry to record the discounting of the note, the amount of the debit to the Cash account is:

a. $50,000.

b. $50,150.

c. $50,333.

d. $51,000.

e. Some other amount.