A company raised $50,000 in cash by taking a one-year loan from a bank. Which of the following best describes the journal entry to record this transaction?

a. Debit short-term debt $25,000; credit cash $25,000.

b. Debit short-term debt $50,000; credit cash $50,000

c. Debit cash $50,000; credit long-term debt $50,000

d. Debit cash $50,000; credit short-term debt $50,000