Bear Essentials borrowed $50,000 from Stacks Bank and signed a promissory note. What entry should Stacks Bank record?

Multiple Choice

• Debit Cash, $50,000; Credit Notes Payable, $50,000.

• Debit Notes Receivable, $50,000; Credit Cash, $50,000.

• Debit Cash, $50,000; Credit Notes Receivable, $50,000.

• Debit Notes Payable, $50,000; Credit Cash, $50,000.