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